Week 4: Discussion
Q.1 Most contracts are governed by common law, while sales contracts are governed by Article 2 of the Uniform Commercial Code. Discuss the advantages of the UCC over common law (1) in promoting contract formation, and (2) in expediting the completion of a business transaction.
Q.2 Regarding Voir Dire, how would you evaluate potential jurors to predict whether they would be sympathetic to your client?
Q.3 What are the legal documents involved when filing a lawsuit (complaint, answer, reply, etc.)? What is the purpose of each document?
Q.4 Write a reply for this discussion
A common law contract differs from a uniform commercial contract when it is governed by case law as opposed to a contract dictated by the Uniform Commercial Code. The common law applies to a wide range of transactions, including employment, intangible assets, insurance, and service provision. UCC applies to purchases of goods and other tangible objects. No matter what laws govern contracts, they all have a requirement of an offer being accepted by another party in exchange for something of value, called consideration.
A contract can only be discharged under the UCC if it is impractical. Under the UCC, there is no requirement of privity of contract in order to sue. Under common law, punitive damages are not permitted in cases of fraud. When fraud occurs, the UCC provides good title for the purchaser. As a result of the US Commercial Code, American companies can do business more efficiently in the U.S., which results in cost savings for consumers. In addition, the UCC serves as a model for uniform state laws in other areas of the law.
A UCC transaction can also be completed more efficiently than a common law transaction. Commercial disputes can be contested and resolved much faster than under common law under this system. Parties can resolve disputes through arbitration under the UCC without having to go to court, for example. It is much faster and less expensive than filing a lawsuit and waiting for a judge to rule. Moreover, the UCC includes rules related to contract performance, such as making payments and delivering goods. It facilitates the understanding of the rights and obligations of parties under the contract and ensures timely completion of the transaction. UCC also provides warranties that allow parties to be certain that the goods or services they are buying are of an acceptable quality. Taking this approach reduces the risk of a contract dispute and makes sure the deal is successfully completed.
Uniform Commercial Code. (n.d.). Higher Logic, LLC. .
Common Law Contracts vs. UCC | UpCounsel 2023. (n.d.). UpCounsel. .