Exam 16: Formation of Sales and Lease Contracts

Contracts for the complete provision of services are covered by Article 2 of the UCC.

How does the Uniform Commercial Code hold a contract with undetermined terms enforceable? Provide examples.

The common law of contracts governs personal property sales and leases when ________.

Oral modification of a contract is not enforceable if the parties agree that any modification of the sales or lease contract must be signed in writing.

Open terms are permitted into contracts if there is a reasonably certain basis for giving an appropriate remedy and the parties intended to make a contract.

The UCC permits an acceptance of sales contracts to contain additional terms and still to act as an acceptance rather than a counteroffer.

How are additional terms in an acceptance to a contract viewed under the common law?

Which of the following does Article 2A of the Uniform Commercial Code govern?

Under the UCC,the inclusion of additional terms in an acceptance is considered a(n)________.

A lessor cannot acquire title to goods that it does not select,manufacture,or supply.

The formation of sales and lease contracts requires an offer but seldom requires an acceptance.

Under the written confirmation rule,a buyer cannot raise the Statue of Frauds against the enforcement of a contract if ________.

If an order or other offer to buy goods requires immediate or current shipment,the offer is accepted ________.

The ________ requires all contracts for the sale of goods costing $500 or more and lease contracts involving payments of $1,000 or more to be in writing.

Which of the following would be considered as goods?

In which of the following can the Statute of Frauds be raised under common law of contract?

Accommodations are considered as acceptance rather than as a counteroffer.

Under the written confirmation rule,the Statute of Frauds writing requirement can be satisfied if ________.

The ________ is a model act passed in 1949 that includes comprehensive laws that cover most aspects of commercial transactions.

According to the parol evidence rule,________ that alter,contradict,or are in addition to the terms of the written contract are inadmissible in court regarding a dispute over a written contract.