Answer :
Final answer:
The statement "UCC allows modification, as long as in good faith, without consideration, and the perfect tender rule will continue to apply" is true under certain conditions outlined in UCC Section 2-209(1), which emphasizes the importance of good faith and commercial reasonableness in modifications.
Explanation:
Uniform Commercial Code (UCC) allows for the modification of a contract without additional consideration under certain conditions, including good faith, commercial reasonableness, and the perfect tender rule continue to apply. Under UCC Section 2-209(1), a contract can be modified orally or in writing, and parties to a reasonably believed agreement can change the terms of their contract at any time.
However, it is important to note that the UCC has certain restrictions regarding modifications. A modification must be made in good faith, and it should be commercially reasonable. The perfect tender rule should continue to apply in the modified contract. If the modification does not meet these requirements, it may not be enforceable under UCC.
In conclusion, the statement "UCC allows modification, as long as in good faith, without consideration, and the perfect tender rule will continue to apply" is true. UCC Section 2-209(1) provides guidelines regarding when and how modification can be made to a contract under certain conditions. However, parties must ensure that any modifications made meet the requirements of good faith, commercial reasonableness, and perfect tender rule under UCC.
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