Question 1

Eliza buys a new motorcycle from Fab Cycles,Inc.The most important factor in determining whether an express warranty is created is whether​

Accepted Answer

A)  Eliza expresses to Fab Cycles what she wants warranted.
B)  Eliza's desire for the cycle becomes part of her motivation to deal.
C)  Fab Cycles expresses to Eliza what it expects of its customers.
D)  Fab Cycles's promise becomes part of the basis of the bargain.E) C) and D)
F) A) and B)

Question 2

Confections Corporation orders Delicious-brand Chocolate Bars from Edibles Company.Edibles identifies the goods.Before they are shipped,an insurable interest in the goods exists in​

Accepted Answer

A)  Confections only.
B)  Edibles only.
C)  both Confections and Edibles.
D)  Delicious only.E) B) and C)
F) A) and B)

Question 3

Revocation of acceptance is effective on notice to the seller or lessor.

Accepted Answer

A) True 
 B)False

Question 4

Equipment Rentals Corporation (ERC) agrees to lease two backhoes to Dig & Fill Construction,Inc.Before any interest in the backhoes can pass from ERC to Dig & Fill,they must be​

Accepted Answer

A)  in existence and identified as the goods in the contract.
B)  in ERC's physical possession.
C)  in Dig & Fill's physical possession.
D)  listed in a document of title and filed in the appropriate state office.E) None of the above
F) B) and D)

Question 5

The 1980 United Nations Convention on Contracts for the International Sale of Goods (CISG) has been adopted by eighty-four countries,including the United States and China.Glide Ride Inc.in the U.S.and Hangzhou Bikes Ltd.in China enter into a contract for a sale of bicycle parts.A dispute arises that leads to a conflict between the CISG and the UCC.In this situation,the CISG applies because​

Accepted Answer

A)  it is a treaty of the U.S.national government.
B)  it is a convention of the United Nations.
C)  it has been ratified by both parties' countries.
D)  China has not adopted the UCC.E) B) and D)
F) All of the above

Question 6

Owen and Pablo enter into a contract for a sale of well-drilling equipment.Pablo pays,but Owen does not deliver.Pablo can normally recover as damages the difference between​

Accepted Answer

A)  any loss avoided and any profit gained.
B)  the actual price and the hoped-for price.
C)  the contract price and the market price.
D)  the current prices in the parties' locations.E) A) and C)
F) A) and D)

Question 7

Langston steals from MindGames,Inc. ,ten game players,which Langston sells to Nu2U Games store.Unaware that the players are stolen,Nu2U reconditions them and sells them to Online Distributors,Inc.With the reconditioned drives,Nu2U gives Online Distributors a written statement that disclaims "any and all warranties." MindGames learns that Online Distributors has the players and demands their return.Online Distributors gives the equipment to MindGames and files a suit against Nu2U.Will Online Distributors succeed in its suit? Why or why not?​

Accepted Answer

Yes,Online Distributors will succeed in ...

Question 8

The UCC requires that the mirror image rule be followed for all acceptances.

Accepted Answer

A) True 
 B)False

Question 9

The doctrine of commercial impracticability only extends to problems that are foreseen.

Accepted Answer

A) True 
 B)False

Question 10

A seller has an insurable interest in goods as long as the goods are in existence.

Accepted Answer

A) True 
 B)False

Question 11

Real Gear Corporation enters into a contract to sell ski equipment to Sno-Sports Inc. ,which sells a pair of the skis to Tyra,a consumer,who later sells them to Upton,another consumer.Article 2 of the UCC applies to the sales transactions between​

Accepted Answer

A)  all of the buyers and sellers.
B)  Real Gear and Sno-Sports only.
C)  Sno-Sports and Tyra only.
D)  Tyra and Upton only.E) A) and D)
F) A) and B)

Question 12

Medico Inc.enters into a contract to sell medical supplies to New Hospital Corporation,which sells some of the items to Physicians Clinic,which later sells them to Oscar,a patient and consumer.Article 2 of the UCC applies to the sales transactions between​

Accepted Answer

A)  all buyers and sellers.
B)  Medico and New Hospital only.
C)  New Hospital and Physicians Clinic only.
D)  Physicians Clinic and Oscar only.E) A) and B)
F) B) and C)

Exam 14: Sales and Lease Contracts

The UCC requires that the mirror image rule be followed for all acceptances.

Correct Answer
verified

Medico Inc.enters into a contract to sell medical supplies to New Hospital Corporation,which sells some of the items to Physicians Clinic,which later sells them to Oscar,a patient and consumer.Article 2 of the UCC applies to the sales transactions between

Correct Answer
verified

A seller has an insurable interest in goods as long as the goods are in existence.

Correct Answer
verified

Eliza buys a new motorcycle from Fab Cycles,Inc.The most important factor in determining whether an express warranty is created is whether

Correct Answer
verified

The doctrine of commercial impracticability only extends to problems that are foreseen.

Correct Answer
verified

Real Gear Corporation enters into a contract to sell ski equipment to Sno-Sports Inc. ,which sells a pair of the skis to Tyra,a consumer,who later sells them to Upton,another consumer.Article 2 of the UCC applies to the sales transactions between

Correct Answer
verified

Revocation of acceptance is effective on notice to the seller or lessor.

Correct Answer
verified

Equipment Rentals Corporation (ERC) agrees to lease two backhoes to Dig & Fill Construction,Inc.Before any interest in the backhoes can pass from ERC to Dig & Fill,they must be

Correct Answer
verified

Confections Corporation orders Delicious-brand Chocolate Bars from Edibles Company.Edibles identifies the goods.Before they are shipped,an insurable interest in the goods exists in

Correct Answer
verified

Correct Answer
verified
Yes,Online Distributors will succeed in ...
View Answer

Owen and Pablo enter into a contract for a sale of well-drilling equipment.Pablo pays,but Owen does not deliver.Pablo can normally recover as damages the difference between

Correct Answer
verified

Correct Answer
verified

Exam 14: Sales and Lease Contracts

The UCC requires that the mirror image rule be followed for all acceptances.

Correct AnswerverifiedShow Answer

Medico Inc.enters into a contract to sell medical supplies to New Hospital Corporation,which sells some of the items to Physicians Clinic,which later sells them to Oscar,a patient and consumer.Article 2 of the UCC applies to the sales transactions between​

Correct AnswerverifiedShow Answer

A seller has an insurable interest in goods as long as the goods are in existence.

Correct AnswerverifiedShow Answer

Eliza buys a new motorcycle from Fab Cycles,Inc.The most important factor in determining whether an express warranty is created is whether​

Correct AnswerverifiedShow Answer

The doctrine of commercial impracticability only extends to problems that are foreseen.

Correct AnswerverifiedShow Answer

Real Gear Corporation enters into a contract to sell ski equipment to Sno-Sports Inc. ,which sells a pair of the skis to Tyra,a consumer,who later sells them to Upton,another consumer.Article 2 of the UCC applies to the sales transactions between​

Correct AnswerverifiedShow Answer

Revocation of acceptance is effective on notice to the seller or lessor.

Correct AnswerverifiedShow Answer

Equipment Rentals Corporation (ERC) agrees to lease two backhoes to Dig & Fill Construction,Inc.Before any interest in the backhoes can pass from ERC to Dig & Fill,they must be​

Correct AnswerverifiedShow Answer

Confections Corporation orders Delicious-brand Chocolate Bars from Edibles Company.Edibles identifies the goods.Before they are shipped,an insurable interest in the goods exists in​

Correct AnswerverifiedShow Answer

Correct AnswerverifiedYes,Online Distributors will succeed in ...View AnswerShow Answer

Owen and Pablo enter into a contract for a sale of well-drilling equipment.Pablo pays,but Owen does not deliver.Pablo can normally recover as damages the difference between​

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Medico Inc.enters into a contract to sell medical supplies to New Hospital Corporation,which sells some of the items to Physicians Clinic,which later sells them to Oscar,a patient and consumer.Article 2 of the UCC applies to the sales transactions between

Correct Answer
verified

Correct Answer
verified

Eliza buys a new motorcycle from Fab Cycles,Inc.The most important factor in determining whether an express warranty is created is whether

Correct Answer
verified

Correct Answer
verified

Real Gear Corporation enters into a contract to sell ski equipment to Sno-Sports Inc. ,which sells a pair of the skis to Tyra,a consumer,who later sells them to Upton,another consumer.Article 2 of the UCC applies to the sales transactions between

Correct Answer
verified

Correct Answer
verified

Equipment Rentals Corporation (ERC) agrees to lease two backhoes to Dig & Fill Construction,Inc.Before any interest in the backhoes can pass from ERC to Dig & Fill,they must be

Correct Answer
verified

Confections Corporation orders Delicious-brand Chocolate Bars from Edibles Company.Edibles identifies the goods.Before they are shipped,an insurable interest in the goods exists in

Correct Answer
verified

Correct Answer
verified
Yes,Online Distributors will succeed in ...
View Answer

Owen and Pablo enter into a contract for a sale of well-drilling equipment.Pablo pays,but Owen does not deliver.Pablo can normally recover as damages the difference between

Correct Answer
verified

Correct Answer
verified