Contracts for the Sale of Property and Leases

Introduction to Sales and Leases

In this article, you will learn more about common contacts for the sale or lease of a property.

After reading this chapter, you should understand the following:

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

This text was adapted by Saylor Academy under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work's original creator or licensor.

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