aicpa财务会计与报告（far）sales

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1、RegulationModule24:SalesInstructor:Helen08/16/20091M24SalesA.ContractsforSalesofGoodsB.ProductLiabilityC.TransferofPropertyRightsD.RiskofLossandPassageofTitleE.PerformanceandRemedyunderSalesLaw2A.ContractsforSaleofGoods3Tangible,movableAContractsforSalesofGood

2、sUnderUCC1.Merchant¡sFirmOfferRule¡Raincheck¡a)UnderUCC,offersbymerchantsareirrevocablewithoutconsiderationif:MerchantsInwritingandsignedbymerchantsBekeptopenforacertaintime(<3months)b)UnderCommonLaw:considerationisneededtomakeanofferirrevocable2.Contractma

3、ybeModifiedwithoutNewConsiderationDoneingoodfaitha)UnderUCC,additionaltermsincludedintheacceptancebecomepartofthecontractunless:OriginalofferprecludessuchNewtermsmateriallyaltertheoriginalofferOfferorgivesnoticeofobjectionwithinareasonabletimeb)UnderCommonL

4、aw,newconsiderationonbothsidesforanymodification4Tangible,movableAContractsforSalesofGoodsUnderUCCExampleofModificationofContractsunderCommonLaw:Bagreed,inawrittencontract,topay$10,000toSforcertainrealestate.Later,Bsaidhewashavingdifficultygettingthe$10,000soS

5、agreedtoreducethepriceto$9,000.Inthiscase,Scanstillenforcethefull$10,000becauseBgavenonewconsiderationforthemodification.5Tangible,movableAContractsforSalesofGoodsUnderUCC3.ExceptionsofStatuteofFrauda)G.R.=Contractsforsalesofgoodsfor>=$500mustbeinwritingMYLEGS

6、!b)ExceptionsSWAP!ContractsforspeciallymanufacturedgoodsAmerchantsendsanothermerchantawrittenconfirmation,itwillalsobindtherecipientifshedoesnotobjectwithin10daysContractsadmittedincourtContractsthathavebeenperformed,totheextentthattheperformancehasbeenacc

7、epted6QuestionTime¡1.UndertheSalesArticleoftheUCC,afirmofferwillbecreatedonlyifthea)Offerstatesthetimeperiodduringwhichitwillremainopenb)Offerismadebyamerchantinasignedwritingc)Offereegivessomeformofconsiderationd)Offereeisamerchant7QuestionTime¡2.UndertheSale

8、sArticleoftheUCC,whichofthefollowingstatementsiscorrect?a)Theobligationsofthepartiestothecontractmustbeperformedingoodfaithb)MerchantsandNonmerchantaretreatedalikec)Thecontractmust