BL Unit IV Assessment 3 of 3

BL UNIT IV ASSESSMENT 3 Name: Institution: Date: BL UNIT IV ASSESSMENT 3 Uniform commercial code protects the sellers as well as the consumers of goods. The selling of goods may involve merchants as well as consumers (Cheeseman, 2009). Each one of these needs to be protected in their business dealings. In the scenario, we have the taxi company involving in two contracts. The bank contracts the taxi company on the funding. Therefore, it appears that the bank is the provider of the meters. On the other hand, the taxi company contracts the manufacturers of the meters. Therefore, the contract needs to protect the three participants. The contracts between whistle cabs and Gold mint Bank is governed by the uniform commercial code (UCC) article. In article two is where there is the formulation of contracts as well as the modification of the same. The taxi company decides to contract the meter company and on realizing that they need provision of a loan they approach the bank that purchases the meters on behalf of the taxi company (Cheeseman, 2003). The nature of business between...