Exam 21: Introduction to Sales and Leases

The common law of contracts has been totally replaced by the Code for the sale of goods.

The CISG does not apply to sales of goods for personal,family,or household use.

The CISG supersedes the UCC in any situation to which either could apply.

A(n)____ is a type of transaction generally involving three parties instead of two.

Under the Code,"good faith" for merchants is defined as "honesty in fact in the conduct or transaction concerned."

Article 2A of the UCC deals with leases of personal property.

What is a "merchant"? Identify four provisions in Article 2 which apply a different standard of conduct to merchants and nonmerchants.

The most important element in determining whether a sales contract has been made is the:

Alasdair,the owner of a shoe store,purchased 500 Model XT-50 running shoes from her supplier,but price was not stated in the contract.The contract is voidable at Alasdair's option until the parties agree on a price.

Which of the following is not a requirement of the statute of frauds provision of Article 2 of the UCC?

If a UCC contract does not contain all the terms necessary to carry it out,there will be no contract.

"Goods" for purposes of the Code are defined as tangible,movable personal property.

The Code defines ____ as "honesty in fact in the conduct or transaction concerned."

Which of the following transactions is governed by Article 2 of the UCC?

Barry owns and operates a small business at an outdoor market where he sells homemade dog treats.What does the UCC specifically require of Barry with respect to his customers?

The Code addresses the battle of the forms problem by focusing on the intent of the parties.

The doctrine of unconscionability deals only with whether the terms of the contract are grossly unfair or oppressive.

A prompt promise to ship or prompt shipment of goods is a valid acceptance of an offer to buy goods for prompt or current shipment.

The Uniform Electronic Transactions Act,in effect in all of the states,covers contracts not governed by Articles 2 and 2A.

To accommodate electronic commerce,which of the following was enacted or promulgated?