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BUL 5810 CHAPTER 21 EXAM QUESTIONS WITH ANSWERS
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BUL 5810 CHAPTER 21 EXAM QUESTIONS WITHANSWERS
A "sale" of goods happens when: - ANSWER title to the goods is passed.
Which of the following transactions is governed by Article 2 of the UCC? -
ANSWER The sale of oranges to be picked up from a 10-acre grove.
The CISG applies to: - ANSWER the international sale of goods.
The Code defines __________ as "honesty in fact in the conduct or transaction
concerned." - ANSWER good faith
A merchant is defined as a person who: - ANSWER 1. Is a dealer in a particular
type of goods
2. by his occupation holds himself out as having knowledge or skills peculiar to
certain goods or practices
3. employs an agent or broker whom he holds out as having knowledge or skill.
The definition of "usage of trade" includes: - ANSWER a practice regularly
observed and followed in a place, vocation, or trade.
Which of the following is true regarding unconscionability under the Code? -
ANSWER The Code denies or limits enforcement of an unconscionable contract
for the sale of goods.
An "option" is defined as a contract by which: - ANSWER the OFFEROR is bound
to hold open an offer for a specified amount of time.
Which of the following is not true about auctions? - ANSWER The UCC provides
that if an auction is advertised or announced in explicit terms to be with reserve, the
auctioneer may not withdraw the article put up for sale unless no bid is made within
, a reasonable time.
A contract that does not satisfy the writing requirement of the Article 2 statute of
frauds, but which is otherwise valid, is enforceable in which of the following
situations? (3) - ANSWER 1. Where the goods have been delivered and accepted
2. Where payment has been accepted
3. Where the goods have been specially manufactured and are not suitable for
resale in the ordinary course of business.
Kobayashi Ltd. contracts with Software Development Corp (SDC) to develop a
new software platform for its customer relationship management system. SCD is
not able to deliver the product in a timely manner and Kobayashi Ltd. cancels its
contract. If SDC sues, which of the following law applies to this contract in a
jurisdiction that follows the predominant factor test? - ANSWER common law
Trailers R Us enters into an agreement with Mobile Hot Dogs, a food vendor, for
the manufacture of a new trailer for food vending services. Trailers R Us includes a
provision in the fine print of the agreement that there are no warranties included
with the sale and that Mobile Hot Dogs agrees to waive its rights to sue or arbitrate
over any matters. This clause likely constitutes: - ANSWER substantive
unconscionability
Jennifer and Avonti Ltd. have dealt with each other for many years. Jennifer's
Boutique orders 100 scarfs at $2.00 each from Avonti Ltd. Avonti sends back a
confirmation letter with an additional, nonmaterial term. There is: - ANSWER
Contract with the additional term unless Jennifer objects
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