A) is one that the seller creates with his words or actions. B) is a contractual assurance that goods will meet certain standards C) can be created by the act or words of the seller D) all of these answers are true. A) is one that the seller creates with his words or actions. B) is a contractual assurance that goods will meet certain standards C) can be created by the act or words of the seller D) all of these answers are true.

Exam 13: Introduction to Sales

How do the tort theories of negligent product liability and strict product liability differ from each other? List and describe the elements an injured party must establish for recovery under each cause of action.

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Question 1

Correct Answer:

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A)Negligence.The two key elements of negligent product liability include duty and breach of duty.A plaintiff injured by purchased goods must show that the seller of the product did not act as a reasonable person in connection with the design,manufacture,or warning given.B)Strict Liability.Unlike negligence,strict liability imposes liability regardless of fault.The injured plaintiff must show that the manufacturer or merchant seller sold a product in a defective condition that was unreasonably dangerous to the user; more dangerous than the ordinary consumer would expect and that the product reached the user without substantial change.

Which of the following contracts requires a writing under the UCC,Article 2?

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Question 2

Correct Answer:

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Megan agrees to sell Nancy her Rolex watch but they do not specify a price.In such a case,the court would not enforce the agreement because all of the essential terms are not present.

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Question 3

Correct Answer:

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False

Which of the following is true regarding an open price term?

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Question 4

The difference between the UCC requirement of good faith and doctrine of unconscionability is that:

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Question 5

In which of the following situations is the seller a merchant under Article 2 of the UCC?

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Question 6

Harriett raises and sells hippos.In order to keep her hippos happy and healthy,she feeds them Hippo Chow,which she buys from the local pet store.Under the UCC,Harriett is:

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Question 7

The most important warranty in the Code

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Question 8

In a breach of contract the injured seller may resell goods not accepted by the buyer.If the resale is commercially reasonable,the seller may recover the difference between the resale price and contract price,but cannot recover incidental damages.

(True/False)

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Question 9

If a buyer unjustly refuses to accept or pay for goods,

(Multiple Choice)

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Question 10

Under the UCC,the writing need not completely summarize the agreement.

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Question 11

Sean of Sean's Shrimp House was enjoying a cup of cappuccino while visiting with Ollie at Ollie's Ocean Front Bar & Grill.During the course of their conversation,Sean agreed to supply 100 pounds of shrimp per month for the next year to Ollie's restaurant at the price of $2.50 per pound.When Sean got back to his office,he sent a written confirmation of the agreement to Ollie.Six weeks after receiving the confirmation Ollie wrote back,stating that he had not agreed to the price of $2.50 per pound.Is Ollie bound to the confirmation?

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Question 12

Which of the following types of property would be classified as "goods" under Article 2 of the UCC?

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Question 13

In a "mixed contract," one involving a sale of both goods and services,the court will:

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Question 14

An express warranty?

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Question 15

Long's Department Store contracted to buy 1,000 drop-waist velour dresses in heather gray from Durham.Subsequently,Durham called and asked to ship mink-colored dresses instead of heather gray.Long agreed,in writing,to the change.Which statement is correct?

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Question 16

Under the UCC,a merchant is frequently held to a higher standard of conduct than a non-merchant.

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Question 17

Which of the following warranties provides that the goods will be useable for the ordinary purposes for which they are used?

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Question 18

In order to disclaim a warranty of fitness for a particular purpose,a merchant:

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Question 19

Patsy is shopping for a used car.She finds a car she likes at Morley Motors.Discuss the standard of conduct the UCC imposes on the parties in performing the sales transaction.

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Question 20

Showing 1 - 20 of 46

Exam 13: Introduction to Sales

How do the tort theories of negligent product liability and strict product liability differ from each other? List and describe the elements an injured party must establish for recovery under each cause of action.

Which of the following contracts requires a writing under the UCC,Article 2?

Megan agrees to sell Nancy her Rolex watch but they do not specify a price.In such a case,the court would not enforce the agreement because all of the essential terms are not present.

Which of the following is true regarding an open price term?

The difference between the UCC requirement of good faith and doctrine of unconscionability is that:

In which of the following situations is the seller a merchant under Article 2 of the UCC?

Harriett raises and sells hippos.In order to keep her hippos happy and healthy,she feeds them Hippo Chow,which she buys from the local pet store.Under the UCC,Harriett is:

The most important warranty in the Code

In a breach of contract the injured seller may resell goods not accepted by the buyer.If the resale is commercially reasonable,the seller may recover the difference between the resale price and contract price,but cannot recover incidental damages.

If a buyer unjustly refuses to accept or pay for goods,

Under the UCC,the writing need not completely summarize the agreement.

Which of the following types of property would be classified as "goods" under Article 2 of the UCC?

In a "mixed contract," one involving a sale of both goods and services,the court will:

An express warranty?

Long's Department Store contracted to buy 1,000 drop-waist velour dresses in heather gray from Durham.Subsequently,Durham called and asked to ship mink-colored dresses instead of heather gray.Long agreed,in writing,to the change.Which statement is correct?

Under the UCC,a merchant is frequently held to a higher standard of conduct than a non-merchant.

Which of the following warranties provides that the goods will be useable for the ordinary purposes for which they are used?

In order to disclaim a warranty of fitness for a particular purpose,a merchant:

Patsy is shopping for a used car.She finds a car she likes at Morley Motors.Discuss the standard of conduct the UCC imposes on the parties in performing the sales transaction.

Introduction to Law

Business Ethics and Social Responsibility

Courts,Litigation and Alterntive Dispute Resolution

Constitutional, Statutory, Administrative, and Common Law

Intentional Torts and Business Torts

Negligence and Strict Liability

Crime

International Law

Introduction to Contracts

Contract Impediments

Conclusion to Contracts

Practical Contracts

Negotiable Instruments

Secured Transactions

Bankruptcy

Agency Law

Employment Law

Employment Discrimination

Labor Law

Starting a Business: Llcs and Other Option

Life and Death of a Corporation

Government Regulation: Securities and Antitrust

Accountants' Liability

Consumer Law

Environmental Law

Cyberlaw

Intellectual Property

Real Property and Tenant: Landlord Law

Personal Property and Bailment

Estate Planning

Insurance

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