Consideration is necessary for agreement, modifications

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Question: Which of the following is true of a contract under common law, but not under the Uniform Commercial Code? Consideration is necessary for an agreement, but not for modifications. Acceptance under different terms will form a contract. Generally, a writing is required for sale of goods up to $500.00 or more. Non-quantity open terms can be determined in the future. Consideration is necessary for agreement, modifications, and option contracts.

Reference no: EM133545748

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