Which law governs the sale of goods in the United States, excluding Louisiana?

Study for the CLEP Business Law Test. Engage with flashcards and multiple choice questions, each question has hints and explanations. Prepare effectively for your exam!

The Uniform Commercial Code, Article 2, governs the sale of goods in the United States, with the notable exception of Louisiana, which has its own set of laws governing sales. Article 2 was specifically designed to provide a standardized set of rules for commercial transactions involving goods, thereby facilitating commerce and ensuring a degree of uniformity across states.

This article addresses various aspects of the sales process, including the formation of contracts, performance obligations, and remedies for breach of contract, among other important elements. By creating a uniform framework, Article 2 helps to reduce confusion and disputes that can arise when parties from different jurisdictions engage in business transactions.

The other options mentioned either do not specifically address the sale of goods or are less relevant in this context. Common law of contracts generally covers contractual agreements outside the realm of sales of goods, while the Restatement (Second) of Contracts serves primarily as a scholarly guide and reference for contract law, and the Code of Sales, while potentially relevant, is not a recognized legal authority in the context of uniform legislation like the UCC. The UCC's specificity and established authority make it the correct answer for governing sales of goods across most of the United States.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy