Exam 12: UCC Sales and Lease Contracts and Warranties

A transfer of the right to the possession and use of named goods for a set term in return for certain consideration is known as ________.

What is the difference between a full warranty and a limited warranty?

Under the UCC, if the time, place, and manner of delivery of goods are not mentioned in a contract, ________.

Which of the following parties to a shipping contract bears the risk of loss of goods during transport?

If a person buys a computer, the sale of contract for it would be subject to Article 2 of the UCC.

Sales that contain provisions of services and goods in the same transaction are not covered by Article 2 of the UCC.

The ________ bears the risk of loss during transportation in a destination contract.

In a case in which a buyer purchases goods from a thief who has stolen them, the purchaser does not acquire title to the goods.

Article 2 of the UCC applies to sales contracts for the sale of intangible goods.

Article ________ of the UCC governs leases of goods.

What are the provisions for contracts with services under Article 2 of the UCC?

Contracts for the provision of services are not covered by Article 2 of the UCC.

The rule states that a merchant who offers to buy, sell, or lease goods and gives a written and signed assurance on a separate form that the offer will be held open cannot revoke the offer for the time stated or, if no time is stated, for a reasonable time is referred to as ________.

In a destination contract, the seller is required to replace any goods lost in transit.

In which of the following does a seller have the right to stop delivery of goods in transit regardless of the size of the shipment?

Kimberley, a merchant-seller in Kansas, had an oral contract to sell goods to Jane, a merchant-buyer in Memphis for $100,000. Two days after contracting, Kimberley sends a sufficient written confirmation to Jane of the agreed-upon transaction. Jane, who has reason to know the contents of the written confirmation, fails to object to the contents of the confirmation immediately. Two weeks after receiving the written confirmation, Jane receives a delivery of the goods from Kimberley. Jane immediately sends an objection to the confirmation to Kimberley. Which of the following is true of the contract between Kimberley and Jane?

Blue Rorschach Inc. has an immediate requirement for 80 laptops and contracts with Zenzo Electronics 80 Dell laptops at $550 each. But Zenzo Electronics breaches the contract and fails to deliver the laptops. Blue Rorschach then immediately contracts Dell Computers, buys 100 laptops at $600 per laptop, and then sues Zenzo Electronics for the breach of contract. What legal right to remedy did Blue Rorschach exercise when contracting Dell Computers and suing Zenzo for failure of delivery of goods?

Steve brings his watch to Knell Watches to be repaired. Knell Watches sells and repairs watches. Steve entrusts his watch at Knells' until it is repaired. The watch store repairs the watch, but then sells it to Kevin, who buys the watch with a fraudulent check that bounced. Kevin then resells the watch to his friend Jonathan, who is unaware of the stolen nature of the watch. Who can legally claim ownership over the watch in court?

A person with voidable title to goods can transfer the goods title to a good faith purchaser for value.

A seller's or lessor's statement of opinion or commendation of the goods does not create an express warranty.