Question

question 1
3 pts
contracts for the sale of real property are governed by the uniform commercial code.
true
false
question 2
3 pts
revocation can be valid any time prior to acceptance.
true
false
question 3
3 pts
common law does not dictate amounts required for consideration.
true
false
question 4
3 pts
contracts for the sale of land must be in writing to be enforceable.
true
false

Explanation:

• Question 1: The Uniform Commercial Code (UCC) governs contracts for the sale of goods, not real property. Real - property - related contracts are typically governed by common law and specific real - estate laws.
• Question 2: Under contract law principles, revocation (the withdrawal of an offer) is valid any time before acceptance. Once an offer is accepted, a contract is formed and revocation is no longer possible.
• Question 3: Common law focuses on the presence of consideration (something of value exchanged) rather than dictating specific amounts. As long as there is a bargained - for exchange, the law is generally satisfied.
• Question 4: Under the Statute of Frauds, contracts for the sale of land must be in writing to be enforceable. This is to prevent fraud and ensure clarity in such important transactions.

Answer:

1. B. False
2. A. True
3. A. True
4. A. True