Exam 21: Introduction to Sales and Leases

Until the early 1900s,sales transactions were completely governed by general contract law,but now sales of tangible personal property are predominantly governed by statute.

Sales contracts containing unconscionable clauses are void and unenforceable.

Where there is no course of performance,usage of trade,or course of dealing,and where a contract is silent as to the place of delivery,the place for delivery is:

The CISG governs contracts for the international sale of goods between parties located in different nations that have ratified the CISG.

In a contract to sell goods,the sale does not take place until the seller transfers the title to the goods to the buyer.

List four areas of contract law where the common law of contracts and the law of sales differ.Give both the common law rule and the rule under Article 2.

A sequence of previous conduct between a buyer and a seller,which may be regarded as establishing an understanding for interpreting an agreement between the two parties,is known as:

Mia's Boutique and Renaldi Co.have dealt with each other for more than 10 years.Mia's Boutique orders 100 assorted lipsticks at $3.00 each from Renaldi Co.Renaldi sends back a confirmation letter stating that the shipment will be made by UPS rather than by U.S.mail as usual.There is:

The common law "mirror image" rule has been modified by the Code.

Troy Tech contracts with Helen to have her knit 14 sweaters for the soccer team in their school colors with their names on the front and "Go Tech" on the back.The contracted price is $100 per sweater.After Helen has almost finished the last sweater,Troy Tech decides it should spend the money on repairs to the locker room instead of on the sweaters.Does Helen's contract have to be in writing for her to enforce it?

Ari makes a written offer to Linville,who replies with a conditional acceptance.Ari ships the goods,which Linville accepts.A contract:

The firm offer provision in Articles 2 and 2A of the UCC covers only merchant sellers.

With regard to uncertainty in a contract that falls within the scope of Article 2,which of the following is true?

Which of the following is correct with respect to finance leases?

Mallory orally agrees to buy 500 electronic cash registers from Thomas for $25,000.Thomas delivers 300 cash registers to Mallory,who receives and accepts them.Which of the following is correct with regard to this transaction?

Which of the following is not considered "goods" within the meaning of Article 2?

Unless an auction is advertised or announced as being without reserve,the sale is with reserve,and the auctioneer may withdraw the goods at any time until he announces completion of the sale.

A written offer from a merchant to buy or sell goods will be irrevocable only if accompanied by consideration.

Which of the following is correct with respect to Article 2A of the UCC?

Under the Code,a contract to sell or lease personal property is recognized whenever the parties manifest such an intent,even if they cannot identify a precise moment the contract was formed.