This is “Introduction to Sales and Leases”, chapter 13 from the book The Legal Environment and Business Law: Master of Accountancy Edition (v. 1.0). For details on it (including licensing), click here.

For more information on the source of this book, or why it is available for free, please see the project's home page. You can browse or download additional books there. To download a .zip file containing this book to use offline, simply click here.

Has this book helped you? Consider passing it on:
Creative Commons supports free culture from music to education. Their licenses helped make this book available to you. helps people like you help teachers fund their classroom projects, from art supplies to books to calculators.

Chapter 13 Introduction to Sales and Leases

Learning Objectives

After reading this chapter, you should understand the following:

  1. Why the law of commercial transactions is separate from the common law
  2. What is meant by “commercial transactions” and how the Uniform Commercial Code (UCC) deals with them in general
  3. The scope of Article 2, Article 2A, and the Convention on Contracts for the International Sale of Goods
  4. 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
  5. The difference between a consumer lease and a finance lease