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law. (Cheeseman, 2006). The computer information transactions involve licenses, not sales. It also extends easily to sales of computers and computer peripherals. UCITA was at the start proposed as an alteration to the Uniform Commercial Cod...
law was initially developed in 1952 as part of the uniform acts with respect to sales transactions and associated laws that represent commercial laws (Flinn, M., (n.d.). The main reason behind the concept of UCC is that, often in today’s so...
business transaction. When a customer comes to a store or a car dealer, she simply takes or identifies the good she desires, bargains a price, pays for the item, and becomes its owner. There is no process whereby the buyer undertakes to dis...
Laws. The amendments made sweeping changes to the law in Illinois and several other states with the purpose of bringing greater certainty to financing transactions. Section 5 of Article 9 charges the Secretary of State’s office with the dut...
contract is a pledge between two or more individuals engaging the exchange of some good or service. Some of the rudimentary components of a contract include: an offer and an acceptance; "capacity," or being of lawful age and sound competen...
statute determines which type of contracts must be in writing. In other words, the “Statute of Frauds” refers to the requirement that certain kinds of contracts be made in writing and signed. Traditionally, the Statute of Frauds requires a ...
UCITA is that it is especially conducive to a race-to-the-bottom. Several factors are present in proposed legislation tend to generate a race-to-the- bottom. According to Bebchuck, a race-to-the-bottom is likely where the law creates both a...