1. How does the UCC define a good? How does the UCC define a merchant? How are the UCC requirements different for a merchant versus a nonmerchant? Provide examples.
2. What are the UCC principles of good faith and reasonableness to sales contracts? What are the different ways that title transfers under UCC Article 2? Which party bears the risk? What distinguishes a sale on approval, sale on consignment, and sale or return under UCC Article 2?
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3. The UCC statute of frauds requires that contracts for the sale of goods valued at $500 or more be in writing, but requires only that the document contain (1) quantity, (2) the signatures of the party against whom enforcement is sought and, (3) language that reasonably shows the parties intended to form a contract.
To the extent that certain terms are missing from the contract, under what conditions may these terms be enforced?