Author Question: Explain the differences between the new UCC and the old UCC.[br][br][b][color=#151B54]Question ... (Read 109 times)

bobthebuilder · **on:** Jun 24, 2018

Explain the differences between the new UCC and the old UCC.

Question 2

Alan Freeman and Bill Freeman, brothers, operated a residential construction firm. There were three divisions of the firm: single-family homes, townhomes, and custom homes. Alan did not enjoy the demands of custom home buyers and Bill did not enjoy the cookie-cutter work of the other divisions. The brothers agreed to split the business with Bill assuming the responsibilities and contracts of the custom home division and Alan handling the remaining divisions. Alan told Bill he could continue to use the company offices until he was able to find offices of his own. Bill met his clients at the company offices, used the plans of the company and even continued to use the company stationery. Three months later Bill left town, leaving custom homes unfinished and taking the deposits of three customers with him. The customers have sued Alan. Which of the following statements is true?
A) Alan is not liable since the relationship had been terminated.
B) Alan is liable because of apparent authority.
C) Bill is not liable because he was Alan's agent.
D) None of the above

Pswine · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

Old New
Statute of frauds 500 5,000
Acceptance Terms by rules Terms later
Writing Must have paper evidence Electronic communication, faxes qualify

Answer to Question 2

B