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BUL 3310 Unit 6 Quiz Questions and Answers 2024/2025 $13.49   Add to cart

Exam (elaborations)

BUL 3310 Unit 6 Quiz Questions and Answers 2024/2025

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Sid Salesman sold Bea Buyer a used 2004 Camry for 8,000. The morning after the contract was signed, Sid called Bea to say that he had forgotten that the dealership would not let that Camry go for less than 9,000 so she would have to pay an additional 1,000 if she wanted the car. Is Bea liable...

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  • October 15, 2024
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  • 2024/2025
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  • BUL 3310
  • BUL 3310
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2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!


BUL 3310 Unit 6 Quiz Questions and
Answers 2024/2025
Sid Salesman sold Bea Buyer a used 2004 Camry for 8,000. The morning after the contract

was signed, Sid called Bea to say that he had forgotten that the dealership would not let that

Camry go for less than 9,000 so she would have to pay an additional 1,000 if she wanted

the car. Is Bea liable for the extra 1,000?




a. yes, this was a unilateral mistake of fact by Sid

b. no, this was a unilateral mistake of fact by Sid

c. yes, Sid has the defense of economic duress

d. yes, this was a bilateral mistake of fact

→ b


Larry Lawyer entered into a contract to buy land from a client at well below market value.

The client was elderly and trusted Larry as his lawyer and son of his best friend to be fair and

give him good advice. Client can rescind the contract based on




a. unilateral mistake of fact

b. unilateral mistake of value

c. undue influence

d. duress


→ c



1|Page| GradeA+ | 2 0 0 2 5

,2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!

Goods which are required for maintaining life or health are classified as




a. res in chose

b. sustenance

c. necessaries

d. obligatories

→ c


British Textile Manufacturer entered into a contract with Cotton Broker for 2,000 bales of

cotton to be shipped from India to England on the ship "Peerless, sailing from Bombay." The

contract was silent about the shipping date. Buyer expected the cotton to be shipped on the

Peerless that sailed from Bombay in October; seller expected to ship the cotton on the

Peerless that sailed from Bombay in December. By the time the second ship arrived in England,

buyer had found another supplier and refused to accept the cotton. Does manufacturer have

any defenses to the breach of contract suit brought by Broker?




a. yes, there was economic duress

b. yes, there was a bilateral mistake of material fact

c. yes, there was a unilateral mistake of material fact

d. no, the buyer should have double checked the shipping date

→ b




1|Page| GradeA+ | 2 0 0 2 5

,2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!

For which of the following purchases would a minor be liable to the seller for the fair value of

the goods?




a. medicine

b. insurance

c. car

d. an iPod

→ a


Any person who occupies a position of trust and confidence in relation to another person or his

property is a trustee.




a. true

b. false

→ b


Contracts entered into by alcoholics are void




a. true

b. false

→ b




1|Page| GradeA+ | 2 0 0 2 5

, 2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!

A seller who knows that his property has a defect not discoverable by the buyer will be liable

for fraudulent misrepresentation if he does not disclose the defect




a. true

b. false

→ a


Fraudulent misrepresentation can be the basis for the injured party to rescind the contract




a. true

b. false

→ a


If a minor ratifies a contract before the age of majority, he gives up the right to avoid the

contract




a. true

b. false

→ b


Under the Code, goods are "tendered" when




1|Page| GradeA+ | 2 0 0 2 5

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