Uniform Commercial Code
This assignment will be assessed with the following course outcome:AC502-2: Examine valid contracts under both the common law and the Uniform Commercial Code.Demonstrate your understanding of American contract law by discussing it in a paper. Show that you understand the requirements for a valid contact with examples? Who may enter into a contact? What needs to happen for there to be a meeting of the minds?Review complete Unit 2 assignment details.AC502: Unit 2 Assignment: Research PaperThis assignment will be assessed with the following Course Outcome:AC502-2: Examine valid contracts under both the common law and the Uniform Commercial Code.Assignment DetailsDemonstrate your understanding of American contract law by discussing it in a paper. Show that youunderstand the requirements for a valid contact with examples? Who may enter into a contact? What needs tohappen for there to be a meeting of the minds?Assignment Checklist:● Discuss the requirements of a contract with examples● In contract law what is the significance of○ Consideration○ Illusory promise○ Promise to perform a preexisting obligation○ Past consideration● Identify the following and discuss their effects:○ mistakes○ misrepresentation○ fraud○ duress○ undue influence● Describe the effect of the lack of capacity on a contract.ormatting:● Respond to the questions in this Assignment providing support or evidence for your point of view orargument you are trying to make.● Tell your readers what action they should take, or provide a summary of what the reader should takeaway from reading/learning about the topic.● Write your paper in a clear and articulate manner using Standard English.● Write the paper in your words without using quotations.● Ensure it is well-organized, logical, and unified, and that your work is original and insightful.● Use the 7th edition APA formatting and citation style for your paper.● Respond in a least a 3-page paper with a separate title and reference page.● Have at least two quality references or law cases in addition to the textbook, for a total of at least three.
