Exam 54: Understanding Key Legal Concepts in Sales and Contracts

Code Section Matching a.Statute of frauds.b.Warranty of title.c.Warranty of merchantability.d.Definition of "merchant." e.Firm offers.f.Good faith.g.The "battle of the forms." h.Parol evidence.i.Definition of "sale." j.Cure. -2-508(1), (2);2A-513(1), (2)

Match the following: a.A sequence of previous conduct between parties establishing a common basis for interpreting their agreement.b.A practice or method of dealing regularly observed and followed in a place,vocation,or trade.c.The transfer of a major part of one's inventory not in the ordinary course of business.d.A contract in which the risk of loss remains with the seller until the buyer accepts the goods.e.Requires the seller to unload the goods from the carrier at the named destination.f.Tangible,movable personal property.g.Unfairness of the bargaining process.h.A signed writing by a merchant that gives assurance an offer for the purchase or sale of goods will be kept open for a maximum of three months.i.A contract in which the risk of loss is on the buyer until she returns the goods.j.Delivery term for a shipment contract;free on board.k.The obligation of the seller to convey the right to ownership without a lien.l.Relationship pertaining to remote sellers in the chain of distribution.m.A term used to indicate that the price includes the cost of transportation and delivery of the goods alongside the carrier.n.A contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a breach of warranty lawsuit.o.An affirmation of fact or promise about the goods or a description,including a sample of the goods,which becomes part of the basis of the bargain.p.Provides the goods are reasonably fit for the ordinary purposes for which they are used.q.Limitation on the time period for which a manufacturer is liable for injury caused by its defective product.r.A contract in which the seller agrees to pay costs of freight,insurance,and transportation to the destination.s.A person who is a dealer in the goods,or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved,or who employs an agent or broker whom he holds out as having such knowledge or skill.t.Oppressuve or grossly unfair contractual provisions. -substantive unconscionability

Match the following: a.Designation of specific goods as those to which the contract of sale refers.b.An action at law to recover specific goods in the possession of a defendant that are being unlawfully withheld from the plaintiff.c.Amount specified in a contract that either party may recover in the event of a breach by the other.d.A seller makes available to buyer goods conforming to the contract and so notifies the buyer.e.The inability of a person to pay his debts in the ordinary course of business or as they become due.f.Total liabilities exceeding the total value of all assets.g.Commercially reasonable charges,expenses,or commissions directly resulting from a breach.h.Expenses resulting from the buyer's requirements and which the seller had reason to expect at the time of contracting;also payment for injury to person or property resulting from breach of warranty.i.A buyer's purchase of goods in substitution for those not delivered by a breaching seller.j.Carrying out one's contractual obligations according to the terms of the contract.k.The Code rule that a seller's performance must exactly conform to the contract.l.The right of a seller under the Code to correct a nonconforming tender of goods to the buyer.m.Buyer's manifestation of an unwillingness to become the owner of the goods.n.Rescission of a buyer's acceptance of the goods based on a nonconformity which substantially impairs their value. -incidental damages

Match the following: a.A sequence of previous conduct between parties establishing a common basis for interpreting their agreement.b.A practice or method of dealing regularly observed and followed in a place,vocation,or trade.c.The transfer of a major part of one's inventory not in the ordinary course of business.d.A contract in which the risk of loss remains with the seller until the buyer accepts the goods.e.Requires the seller to unload the goods from the carrier at the named destination.f.Tangible,movable personal property.g.Unfairness of the bargaining process.h.A signed writing by a merchant that gives assurance an offer for the purchase or sale of goods will be kept open for a maximum of three months.i.A contract in which the risk of loss is on the buyer until she returns the goods.j.Delivery term for a shipment contract;free on board.k.The obligation of the seller to convey the right to ownership without a lien.l.Relationship pertaining to remote sellers in the chain of distribution.m.A term used to indicate that the price includes the cost of transportation and delivery of the goods alongside the carrier.n.A contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a breach of warranty lawsuit.o.An affirmation of fact or promise about the goods or a description,including a sample of the goods,which becomes part of the basis of the bargain.p.Provides the goods are reasonably fit for the ordinary purposes for which they are used.q.Limitation on the time period for which a manufacturer is liable for injury caused by its defective product.r.A contract in which the seller agrees to pay costs of freight,insurance,and transportation to the destination.s.A person who is a dealer in the goods,or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved,or who employs an agent or broker whom he holds out as having such knowledge or skill.t.Oppressuve or grossly unfair contractual provisions. -vertical privity

Match the following: a.A sequence of previous conduct between parties establishing a common basis for interpreting their agreement.b.A practice or method of dealing regularly observed and followed in a place,vocation,or trade.c.The transfer of a major part of one's inventory not in the ordinary course of business.d.A contract in which the risk of loss remains with the seller until the buyer accepts the goods.e.Requires the seller to unload the goods from the carrier at the named destination.f.Tangible,movable personal property.g.Unfairness of the bargaining process.h.A signed writing by a merchant that gives assurance an offer for the purchase or sale of goods will be kept open for a maximum of three months.i.A contract in which the risk of loss is on the buyer until she returns the goods.j.Delivery term for a shipment contract;free on board.k.The obligation of the seller to convey the right to ownership without a lien.l.Relationship pertaining to remote sellers in the chain of distribution.m.A term used to indicate that the price includes the cost of transportation and delivery of the goods alongside the carrier.n.A contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a breach of warranty lawsuit.o.An affirmation of fact or promise about the goods or a description,including a sample of the goods,which becomes part of the basis of the bargain.p.Provides the goods are reasonably fit for the ordinary purposes for which they are used.q.Limitation on the time period for which a manufacturer is liable for injury caused by its defective product.r.A contract in which the seller agrees to pay costs of freight,insurance,and transportation to the destination.s.A person who is a dealer in the goods,or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved,or who employs an agent or broker whom he holds out as having such knowledge or skill.t.Oppressuve or grossly unfair contractual provisions. -FOB place of shipment

Match the following: a.A sequence of previous conduct between parties establishing a common basis for interpreting their agreement.b.A practice or method of dealing regularly observed and followed in a place,vocation,or trade.c.The transfer of a major part of one's inventory not in the ordinary course of business.d.A contract in which the risk of loss remains with the seller until the buyer accepts the goods.e.Requires the seller to unload the goods from the carrier at the named destination.f.Tangible,movable personal property.g.Unfairness of the bargaining process.h.A signed writing by a merchant that gives assurance an offer for the purchase or sale of goods will be kept open for a maximum of three months.i.A contract in which the risk of loss is on the buyer until she returns the goods.j.Delivery term for a shipment contract;free on board.k.The obligation of the seller to convey the right to ownership without a lien.l.Relationship pertaining to remote sellers in the chain of distribution.m.A term used to indicate that the price includes the cost of transportation and delivery of the goods alongside the carrier.n.A contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a breach of warranty lawsuit.o.An affirmation of fact or promise about the goods or a description,including a sample of the goods,which becomes part of the basis of the bargain.p.Provides the goods are reasonably fit for the ordinary purposes for which they are used.q.Limitation on the time period for which a manufacturer is liable for injury caused by its defective product.r.A contract in which the seller agrees to pay costs of freight,insurance,and transportation to the destination.s.A person who is a dealer in the goods,or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved,or who employs an agent or broker whom he holds out as having such knowledge or skill.t.Oppressuve or grossly unfair contractual provisions. -sale on approval

Match the following: a.A sequence of previous conduct between parties establishing a common basis for interpreting their agreement.b.A practice or method of dealing regularly observed and followed in a place,vocation,or trade.c.The transfer of a major part of one's inventory not in the ordinary course of business.d.A contract in which the risk of loss remains with the seller until the buyer accepts the goods.e.Requires the seller to unload the goods from the carrier at the named destination.f.Tangible,movable personal property.g.Unfairness of the bargaining process.h.A signed writing by a merchant that gives assurance an offer for the purchase or sale of goods will be kept open for a maximum of three months.i.A contract in which the risk of loss is on the buyer until she returns the goods.j.Delivery term for a shipment contract;free on board.k.The obligation of the seller to convey the right to ownership without a lien.l.Relationship pertaining to remote sellers in the chain of distribution.m.A term used to indicate that the price includes the cost of transportation and delivery of the goods alongside the carrier.n.A contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a breach of warranty lawsuit.o.An affirmation of fact or promise about the goods or a description,including a sample of the goods,which becomes part of the basis of the bargain.p.Provides the goods are reasonably fit for the ordinary purposes for which they are used.q.Limitation on the time period for which a manufacturer is liable for injury caused by its defective product.r.A contract in which the seller agrees to pay costs of freight,insurance,and transportation to the destination.s.A person who is a dealer in the goods,or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved,or who employs an agent or broker whom he holds out as having such knowledge or skill.t.Oppressuve or grossly unfair contractual provisions. -usage of trade

Code Section Matching a.Statute of frauds.b.Warranty of title.c.Warranty of merchantability.d.Definition of "merchant." e.Firm offers.f.Good faith.g.The "battle of the forms." h.Parol evidence.i.Definition of "sale." j.Cure. -2-207

Match the following: a.Designation of specific goods as those to which the contract of sale refers.b.An action at law to recover specific goods in the possession of a defendant that are being unlawfully withheld from the plaintiff.c.Amount specified in a contract that either party may recover in the event of a breach by the other.d.A seller makes available to buyer goods conforming to the contract and so notifies the buyer.e.The inability of a person to pay his debts in the ordinary course of business or as they become due.f.Total liabilities exceeding the total value of all assets.g.Commercially reasonable charges,expenses,or commissions directly resulting from a breach.h.Expenses resulting from the buyer's requirements and which the seller had reason to expect at the time of contracting;also payment for injury to person or property resulting from breach of warranty.i.A buyer's purchase of goods in substitution for those not delivered by a breaching seller.j.Carrying out one's contractual obligations according to the terms of the contract.k.The Code rule that a seller's performance must exactly conform to the contract.l.The right of a seller under the Code to correct a nonconforming tender of goods to the buyer.m.Buyer's manifestation of an unwillingness to become the owner of the goods.n.Rescission of a buyer's acceptance of the goods based on a nonconformity which substantially impairs their value. -revocation of acceptance

Match the following: a.Designation of specific goods as those to which the contract of sale refers.b.An action at law to recover specific goods in the possession of a defendant that are being unlawfully withheld from the plaintiff.c.Amount specified in a contract that either party may recover in the event of a breach by the other.d.A seller makes available to buyer goods conforming to the contract and so notifies the buyer.e.The inability of a person to pay his debts in the ordinary course of business or as they become due.f.Total liabilities exceeding the total value of all assets.g.Commercially reasonable charges,expenses,or commissions directly resulting from a breach.h.Expenses resulting from the buyer's requirements and which the seller had reason to expect at the time of contracting;also payment for injury to person or property resulting from breach of warranty.i.A buyer's purchase of goods in substitution for those not delivered by a breaching seller.j.Carrying out one's contractual obligations according to the terms of the contract.k.The Code rule that a seller's performance must exactly conform to the contract.l.The right of a seller under the Code to correct a nonconforming tender of goods to the buyer.m.Buyer's manifestation of an unwillingness to become the owner of the goods.n.Rescission of a buyer's acceptance of the goods based on a nonconformity which substantially impairs their value. -consequential damages

Match the following: a.Designation of specific goods as those to which the contract of sale refers.b.An action at law to recover specific goods in the possession of a defendant that are being unlawfully withheld from the plaintiff.c.Amount specified in a contract that either party may recover in the event of a breach by the other.d.A seller makes available to buyer goods conforming to the contract and so notifies the buyer.e.The inability of a person to pay his debts in the ordinary course of business or as they become due.f.Total liabilities exceeding the total value of all assets.g.Commercially reasonable charges,expenses,or commissions directly resulting from a breach.h.Expenses resulting from the buyer's requirements and which the seller had reason to expect at the time of contracting;also payment for injury to person or property resulting from breach of warranty.i.A buyer's purchase of goods in substitution for those not delivered by a breaching seller.j.Carrying out one's contractual obligations according to the terms of the contract.k.The Code rule that a seller's performance must exactly conform to the contract.l.The right of a seller under the Code to correct a nonconforming tender of goods to the buyer.m.Buyer's manifestation of an unwillingness to become the owner of the goods.n.Rescission of a buyer's acceptance of the goods based on a nonconformity which substantially impairs their value. -rejection of the goods

Match the following: a.A sequence of previous conduct between parties establishing a common basis for interpreting their agreement.b.A practice or method of dealing regularly observed and followed in a place,vocation,or trade.c.The transfer of a major part of one's inventory not in the ordinary course of business.d.A contract in which the risk of loss remains with the seller until the buyer accepts the goods.e.Requires the seller to unload the goods from the carrier at the named destination.f.Tangible,movable personal property.g.Unfairness of the bargaining process.h.A signed writing by a merchant that gives assurance an offer for the purchase or sale of goods will be kept open for a maximum of three months.i.A contract in which the risk of loss is on the buyer until she returns the goods.j.Delivery term for a shipment contract;free on board.k.The obligation of the seller to convey the right to ownership without a lien.l.Relationship pertaining to remote sellers in the chain of distribution.m.A term used to indicate that the price includes the cost of transportation and delivery of the goods alongside the carrier.n.A contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a breach of warranty lawsuit.o.An affirmation of fact or promise about the goods or a description,including a sample of the goods,which becomes part of the basis of the bargain.p.Provides the goods are reasonably fit for the ordinary purposes for which they are used.q.Limitation on the time period for which a manufacturer is liable for injury caused by its defective product.r.A contract in which the seller agrees to pay costs of freight,insurance,and transportation to the destination.s.A person who is a dealer in the goods,or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved,or who employs an agent or broker whom he holds out as having such knowledge or skill.t.Oppressuve or grossly unfair contractual provisions. -ex-ship

Code Section Matching a.Statute of frauds.b.Warranty of title.c.Warranty of merchantability.d.Definition of "merchant." e.Firm offers.f.Good faith.g.The "battle of the forms." h.Parol evidence.i.Definition of "sale." j.Cure. -2-201;2A-201

Code Section Matching a.Statute of frauds.b.Warranty of title.c.Warranty of merchantability.d.Definition of "merchant." e.Firm offers.f.Good faith.g.The "battle of the forms." h.Parol evidence.i.Definition of "sale." j.Cure. -2-312(1)

Code Section Matching a.Statute of frauds.b.Warranty of title.c.Warranty of merchantability.d.Definition of "merchant." e.Firm offers.f.Good faith.g.The "battle of the forms." h.Parol evidence.i.Definition of "sale." j.Cure. -2-314

Match the following: a.A sequence of previous conduct between parties establishing a common basis for interpreting their agreement.b.A practice or method of dealing regularly observed and followed in a place,vocation,or trade.c.The transfer of a major part of one's inventory not in the ordinary course of business.d.A contract in which the risk of loss remains with the seller until the buyer accepts the goods.e.Requires the seller to unload the goods from the carrier at the named destination.f.Tangible,movable personal property.g.Unfairness of the bargaining process.h.A signed writing by a merchant that gives assurance an offer for the purchase or sale of goods will be kept open for a maximum of three months.i.A contract in which the risk of loss is on the buyer until she returns the goods.j.Delivery term for a shipment contract;free on board.k.The obligation of the seller to convey the right to ownership without a lien.l.Relationship pertaining to remote sellers in the chain of distribution.m.A term used to indicate that the price includes the cost of transportation and delivery of the goods alongside the carrier.n.A contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a breach of warranty lawsuit.o.An affirmation of fact or promise about the goods or a description,including a sample of the goods,which becomes part of the basis of the bargain.p.Provides the goods are reasonably fit for the ordinary purposes for which they are used.q.Limitation on the time period for which a manufacturer is liable for injury caused by its defective product.r.A contract in which the seller agrees to pay costs of freight,insurance,and transportation to the destination.s.A person who is a dealer in the goods,or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved,or who employs an agent or broker whom he holds out as having such knowledge or skill.t.Oppressuve or grossly unfair contractual provisions. -bulk transfer

Match the following: a.A sequence of previous conduct between parties establishing a common basis for interpreting their agreement.b.A practice or method of dealing regularly observed and followed in a place,vocation,or trade.c.The transfer of a major part of one's inventory not in the ordinary course of business.d.A contract in which the risk of loss remains with the seller until the buyer accepts the goods.e.Requires the seller to unload the goods from the carrier at the named destination.f.Tangible,movable personal property.g.Unfairness of the bargaining process.h.A signed writing by a merchant that gives assurance an offer for the purchase or sale of goods will be kept open for a maximum of three months.i.A contract in which the risk of loss is on the buyer until she returns the goods.j.Delivery term for a shipment contract;free on board.k.The obligation of the seller to convey the right to ownership without a lien.l.Relationship pertaining to remote sellers in the chain of distribution.m.A term used to indicate that the price includes the cost of transportation and delivery of the goods alongside the carrier.n.A contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a breach of warranty lawsuit.o.An affirmation of fact or promise about the goods or a description,including a sample of the goods,which becomes part of the basis of the bargain.p.Provides the goods are reasonably fit for the ordinary purposes for which they are used.q.Limitation on the time period for which a manufacturer is liable for injury caused by its defective product.r.A contract in which the seller agrees to pay costs of freight,insurance,and transportation to the destination.s.A person who is a dealer in the goods,or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved,or who employs an agent or broker whom he holds out as having such knowledge or skill.t.Oppressuve or grossly unfair contractual provisions. -FAS

Code Section Matching a.Statute of frauds.b.Warranty of title.c.Warranty of merchantability.d.Definition of "merchant." e.Firm offers.f.Good faith.g.The "battle of the forms." h.Parol evidence.i.Definition of "sale." j.Cure. -2-106

Match the following: a.Designation of specific goods as those to which the contract of sale refers.b.An action at law to recover specific goods in the possession of a defendant that are being unlawfully withheld from the plaintiff.c.Amount specified in a contract that either party may recover in the event of a breach by the other.d.A seller makes available to buyer goods conforming to the contract and so notifies the buyer.e.The inability of a person to pay his debts in the ordinary course of business or as they become due.f.Total liabilities exceeding the total value of all assets.g.Commercially reasonable charges,expenses,or commissions directly resulting from a breach.h.Expenses resulting from the buyer's requirements and which the seller had reason to expect at the time of contracting;also payment for injury to person or property resulting from breach of warranty.i.A buyer's purchase of goods in substitution for those not delivered by a breaching seller.j.Carrying out one's contractual obligations according to the terms of the contract.k.The Code rule that a seller's performance must exactly conform to the contract.l.The right of a seller under the Code to correct a nonconforming tender of goods to the buyer.m.Buyer's manifestation of an unwillingness to become the owner of the goods.n.Rescission of a buyer's acceptance of the goods based on a nonconformity which substantially impairs their value. -cover

Code Section Matching a.Statute of frauds.b.Warranty of title.c.Warranty of merchantability.d.Definition of "merchant." e.Firm offers.f.Good faith.g.The "battle of the forms." h.Parol evidence.i.Definition of "sale." j.Cure. -1-201(19)