Under the Code,a new consideration is required if an existing contract is modified.

Name: Under the Code,a new consideration is required if an existing contract is modified.
Brand: Quizplus
Rating: 4.8 (56 reviews)

Question

Quizplus · Accepted Answer

Under contract law, a modification of an existing contract does not necessarily require new consideration if both parties agree to the modification, especially under the Uniform Commercial Code (UCC) for the sale of goods, where modifications can be made without new consideration as long as they are made in good faith.

Under the Code,a New Consideration Is Required If an Existing