Leslie pays Mobile Electronics $600 for a new phone. Under the UCC, this is
A) a merchant's firm offer.
B) a lease.
C) a sale.
D) a requirements contract.

Question

Leslie pays Mobile Electronics $600 for a new phone. Under the UCC, this is
A) ​a merchant's firm offer.
B) ​a lease.
C) ​a sale.
D) ​a requirements contract.

Quizplus · Accepted Answer

Under the Uniform Commercial Code (UCC), a sale occurs when goods are transferred for a price or other consideration. In this scenario, Leslie is paying Mobile Electronics for a new phone, which qualifies as a sale under the UCC. Choice A is incorrect because a merchant's firm offer would involve a specific promise to keep an offer open for a certain period of time, which is not evident in this scenario. Choice B is incorrect because a lease would involve a transfer of possession and use of goods for a specified period of time, which is not evident in this scenario. Choice D is incorrect because a requirements contract would involve an agreement to purchase all or a certain amount of goods from a specific seller, which is not evident in this scenario.

Leslie Pays Mobile Electronics $600 for a New Phone