CONTRACT LAW EXAMINATION TEST 2026 QUESTIONS WITH ALL CORRECT ANSWERS GRADED A+

CONTRACT LAW EXAMINATION TEST 2026
QUESTIONS WITH ALL CORRECT ANSWERS
GRADED A+

⩥ The Uniform Commercial Code (UCC). Answer: originally drafted by
the National Conference of Commissioners on Uniform State Law, it
governs commercial transactions and has been adopted by all states,
entirely or in party


⩥ Article !. Answer: General Provisions , such as definitions that apply
to entire UCC.


⩥ Article 2. Answer: Deal with the sales of goods.


⩥ Article 2A. Answer: Leases (new)


⩥ Article 3. Answer: Commercial paper


⩥ Article 4. Answer: Bank Deposits and collections


⩥ Article 5. Answer: Letters of Credits

, ⩥ Article 6. Answer: Bulk Transfer


⩥ Article 7. Answer: Wharehouse receipts,Bill of lading, and others
documents of title.


⩥ Article 8. Answer: Investment Securities


⩥ Article 9. Answer: Secured transactions


⩥ Article 10. Answer: Efective date and Repealer


⩥ Bilateral Contract. Answer: A type of contract that arises when a
promise is given in exchange for a return promise.


⩥ Unilateral Contract. Answer: a contract that contains a promise by
only one person to do something, if and when the other party performs
some act.


⩥ Express Contract. Answer: A contract in which the terms of the
agreement are fully and explicitly stated in words, oral or written.


⩥ Implied in fact Contract. Answer: A contract formed in whole or in
part from the conduct of the parties (as opposed to an express contract).