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Essay / Grocery, Inc. and Uniform Commercial Codes - 1646
Grocery, Inc. Presentation Week five gave the Learning Team the opportunity to review and analyze seven case scenarios regarding Grocery, Inc. These case scenarios include Grocery, Inc. Uniform Commercial Codes (UCC), Renovation, Minor Employee, Variance Filing Rule, Employee Breach of Contract, FOB, and Supplier. Although Grocery, Inc. is not directly involved in each scenario, therefore, the learning team will also indirectly describe the store's involvement. After reviewing and analyzing the seven scenarios for Grocery, Inc., the learning team gained an in-depth understanding of the Uniform Business Commercial Code. Grocery, Inc. Uniform Commercial Code (UCC) The first scenario asks the question, does Article 2 of the Uniform Commercial Code (UCC) apply to contracts between Grocery, Inc. and its suppliers. He also asks whether common law contracts apply. The UCC only applies to the sale of tangible (physical existence) and personal property from one location to another. Section 2 applies to merchants who are regularly engaged in the sale of particular goods (Melvin, 2011. p. 182). While common law applies to real property, services and intangibles. Therefore, common law does not apply to Grocery, Inc. and its suppliers. Grocery, Inc. uses many suppliers, from individuals to corporate giants. Everyone is engaged in moving products from supplier to retailer. The goal of the UCC is to ensure a smooth transaction by promoting efficiency and standard procedures that consumers and merchants can rely on. Article 2 of the UCC makes it possible to fill in the gaps of missing details to facilitate the conclusion of sales contracts. These gaps may include a fixed delivery schedule, a standard order, specific product types, guarantees in case of loss...... middle of paper ...... is not written, the contract is still enforceable because the standard purchase order contains the required items. Bill's oral agreement serves as authorization. Conclusion The legality involved in operating a business is very important to both the owner and operators of the business. Some may not be aware of all the details; however, he or she must be familiar with the UCC regulations. When owners and operators understand UCC regulations, they can operate the business more efficiently and legally. Works Cited Case Scenarios: Grocery, Inc. (nd). Retrieved May 18, 2014, from the University of Phoenix: https://ecampus.phoenix.edu/secure/aapd/SB/LAW421/Case%20Scenarios_%20Grocery,%20Inc.%20-%20Engage%20output/engage.htmlMelvin , SP (2011). The legal environment of the company: A managerial approach: from theory to practice. New York, New York: McGraw-Hill/Irwin.