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Chapter 8 Introduction to Sales and Leases
Learning Objectives
After reading this chapter, you should understand the following:
- Why the law of commercial transactions is separate from the common law
- What is meant by “commercial transactions” and how the Uniform Commercial Code (UCC) deals with them in general
- The scope of Article 2, Article 2A, and the Convention on Contracts for the International Sale of Goods
- What obligations similar to the common law’s are imposed on parties to a UCC contract, and what obligations different from the common law’s are imposed
- The difference between a consumer lease and a finance lease