Compare and contrast the manifestation of mutual assent under both the common law and under Article 2.

Introduction to Sales and Leases

• Distinguish a sale from a lease and describe the governing law for both.

• Identify and explain the fundamental principles of Article 2 and Article 2A of the Uniform Commercial Code (UCC).

• Compare and contrast the manifestation of mutual assent under both the common law and under Article 2.

• Determine how Article 2 deals with (1) the necessity of consideration to modify a contract and
(2) irrevocable offers.

• Describe the UCC’s approach to requiring that certain contracts be in writing and identify the alternative methods of compliance under the Code.