When the parties are merchants,the Uniform Commercial Code requires ________.
A)perfection in customer service
B)equity
C)honesty in fact and reasonable commercial standards of fair dealing
D)equity and reasonable commercial standards of fair dealing
E)honesty in fact and perfection in customer service

Question

Quizplus · Accepted Answer

Uniform Commercial Code Section 1-304 requires good faith in the performance and enforcement of every contract,and good faith for non-merchants means honesty in fact.When the parties are merchants,the Code imposes an even higher standard,requiring not only honesty in fact but also reasonable commercial standards of fair dealing.

When the Parties Are Merchants,the Uniform Commercial Code Requires ________