James is taking courses during the first half of Summer Semester at Ohio University, and he needs a car to use while he is in Athens for the summer. Laura is taking classes abroad during the summer, and she agrees to lease her car to James. Laura tells James they can figure out how much the lease will cost at the end of the summer when she returns. Under the UCC, this lease would not valid without a negotiated price and length of the lease. True False Why??
James is taking courses during the first half of Summer Semester at Ohio University, and he needs a car to use while he is in Athens for the summer. Laura is taking classes abroad during the summer, and she agrees to lease her car to James. Laura tells James they can figure out how much the lease will cost at the end of the summer when she returns. Under the UCC, this lease would not valid without a negotiated price and length of the lease. True False Why??
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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James is taking courses during the first half of Summer Semester at Ohio University, and he needs a car to use while he is in Athens for the summer. Laura is taking classes abroad during the summer, and she agrees to lease her car to James. Laura tells James they can figure out how much the lease will cost at the end of the summer when she returns.
Under the UCC, this lease would not valid without a negotiated price and length of the lease.
True
False
Why??
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