Which of the following is a true statement regarding whether the buyer and seller may negotiate a longer time for the statute of limitations than that allowed by the UCC?
A) The buyer and seller may not negotiate a longer time for the statute of limitations than that allowed by the UCC.
B) The buyer and seller may negotiate a longer time for the statute of limitations than that allowed by the UCC without any limits.
C) The buyer and seller may negotiate a longer time for the statute of limitations than that allowed by the UCC so long as the time period in which to sue does not extend past one year from the date of breach.
D) The buyer and seller may negotiate a shorter time for the statute of limitations than that allowed by the UCC so long as the time period in which to sue does not extend beyond five years from the date of breach.
E) The buyer and seller may negotiate a shorter time for the statute of limitations than that allowed by the UCC so long as the time period in which to sue does not extend beyond six years from the date of breach.

Question

Quizplus · Accepted Answer

Under the UCC, parties cannot extend the statute of limitations beyond the period allowed by the UCC, which is typically four years. They can, however, agree to shorten it to not less than one year.

Which of the Following Is a True Statement Regarding Whether