Exam 21: Introduction to Sales and Leases

Mary and Renaldi Co. have dealt with each other for many, many years. Mary'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:

Under Article 2 of the UCC, which of the following would be considered a sale?

In determining whether a contract containing both a sale of goods and a service is a UCC or general contract, the majority of states follow the:

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.

The UCC treats merchants more leniently than others in transactions involving goods.

For $100 each, Helen agrees with Troy Tech to knit 14 sweaters for the soccer team in their school colors with their names on the front and "Go Tech" on the back. 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?

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

What does Article 2 say with regard to the following? a. Good faith. b. Unconscionability. c. Expansion of commercial practices. All parties who enter into a contract or duty within the scope of the Code must perform their obligations in good faith. The Code defines good faith as "honesty in

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

Shannon orally agrees to buy 500 telephone answering machines from Thomas for $25,000. Thomas delivers 300 answering machines to Shannon, who receives and accepts them. Which of the following is correct with regard to this transaction?

A court faced with an unconscionable lease contract may refuse to enforce the entire contract.

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

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

Which of the following is true about the CISG?

The UCC provides rules, where the parties do not set forth terms in their contract, to cover:

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: a. the seller's place of business. b. wherever the goods were manufactured. c. wherever the goods are located. d. the buyer's place of business.

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.

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

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