Certification in Supplier Diversity Practice Exam

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What does Article 2 of the Uniform Commercial Code (UCC) govern?

Employment contracts
Real estate transactions
Contracts for the sale of goods
Service agreements

The correct answer is: Contracts for the sale of goods

Article 2 of the Uniform Commercial Code (UCC) specifically governs contracts for the sale of goods. The UCC is a comprehensive set of laws that standardizes transactions in various sectors; however, Article 2 focuses explicitly on the sale of goods, defining the rights and obligations of buyers and sellers involved in these transactions. Goods, as defined by the UCC, refer to tangible, movable items that can be sold. Article 2 outlines essential provisions such as formation of contracts, performance obligations, warranties, and remedies for breach of contract, all tailored specifically to the context of sales of goods. This framework aims to simplify and clarify commercial transactions, promoting consistency and predictability in the marketplace. In contrast, employment contracts, real estate transactions, and service agreements are governed by other laws and regulations outside the scope of Article 2, highlighting its specific concentration on goods rather than services or real property.