Exam 12: Sales and Product Liability
Exam 1: Introduction to Law45 Questions
Exam 2: Business Ethics and Social Responsibility45 Questions
Exam 3: Dispute Resolution45 Questions
Exam 4: Common Law, statutory Law, and Administrative Law45 Questions
Exam 5: Constitutional Law45 Questions
Exam 6: Torts45 Questions
Exam 7: Crime45 Questions
Exam 8: International Law45 Questions
Exam 9: Introduction to Contracts45 Questions
Exam 10: Legality, consent, and Writing45 Questions
Exam 11: Conclusion to Contracts45 Questions
Exam 12: Sales and Product Liability45 Questions
Exam 13: Negotiable Instruments and Banks45 Questions
Exam 14: Secured Transactions and Bankruptcy45 Questions
Exam 15: Agency45 Questions
Exam 16: Employment Law45 Questions
Exam 17: Labor Law45 Questions
Exam 18: Starting a Business: Llcs and Other Options45 Questions
Exam 19: Corporations45 Questions
Exam 20: Securities Regulation45 Questions
Exam 21: Antitrust45 Questions
Exam 22: Cyberlaw45 Questions
Exam 23: Intellectual Property45 Questions
Exam 24: Property45 Questions
Exam 25: Consumer Law45 Questions
Exam 26: Environmental Law45 Questions
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Under the UCC statute of frauds,the writing must:
Free
(Multiple Choice)
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Correct Answer:
A
No section of the Uniform Commercial Code has any legal effect until it is adopted by a state legislature.
Free
(True/False)
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Correct Answer:
True
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:
Free
(Multiple Choice)
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Correct Answer:
B
Green Mountain Gift Shop ordered ten dozen evergreen wreaths from Carter Crafts to be delivered by November 28,time being of the essence.If Carter fails to deliver the wreaths,Green Mountain would be entitled to incidental damages,but could not obtain consequential damages or the loss of profit it expected to make by reselling the wreaths to retail customers for the Christmas season.
(True/False)
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The UCC does not apply to contracts for the sale of goods if the value of the goods is less than $500.
(True/False)
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Which of the following types of property would be classified as "goods" under Article 2 of the UCC?
(Multiple Choice)
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A seller's remedies for breach of a sales contract by the buyer include all but which of the following?
(Multiple Choice)
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Hennessee sold a log splitter to Byrd "AS IS." Hennessee has disclaimed:
(Multiple Choice)
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UCC Section 2-207 contains many changes to the common law,but one basic requirement that is not changed by this statute is that to create a contract:
(Multiple Choice)
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Oxtren,Inc.is a tools wholesaler.Oxtren sent M&E Tools a purchase order offering to buy 200 Model 308 milling & drilling machines with R-8 spindles.The purchase order stated the credit term to be 2% discount if payment was made in 10 days,with the full amount due in 30 days.It did not include a forum selection clause.M&E responded with an acceptance form accepting the offer.The acceptance form,however,stated that full payment was due on delivery and that disputes under the contract would be settled by arbitration.
(A)Do the parties have an agreement?
(B)What is the payment term?
(C)Is the arbitration clause part of the agreement?
(Essay)
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Meister Bros.shipped 250 radiator belts to fill Braybon's order.Quality control measures had been in place in Meister's factory when the belts were manufactured.When Braybon received the order one day before it was due,it notified Meister that it rejected the belts because of a variation from the contract specifications.Meister,although it believed the original belts met the contract specifications,notified Braybon that it would supply conforming goods within one week.When the conforming goods arrive in one week,Braybon:
(Multiple Choice)
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UCC Section 2-204 provides three important rules that enable parties to make a contract quickly and informally.These include all but which of the following?
(Multiple Choice)
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A sales representative at Oxtren,Inc.orally told the purchasing agent at Wety,Inc.that its industrial saw will cut through metal up to five inches thick.Wety purchased the saw.Which statement is correct concerning the claim that the saw can cut through metal up to five inches thick?
(Multiple Choice)
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When Angelena was shopping for a new lawn mower,the salesman,Mark,told her the model she was interested in cuts an 18" swath and the only maintenance it needs is an oil change and a new sparkplug at the beginning of each mowing season.He hands her a warranty booklet which describes that model as a mulching mower and says it has a five-year full warranty.The booklet also disclaims "any warranties or statements made by any agent or salesperson or that appear elsewhere in this booklet." The effect of the written disclaimer is:
(Multiple Choice)
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Which of the following warranties provides that the goods will be fit for the ordinary purposes for which they are used?
(Multiple Choice)
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Peter purchased a new car from Monster Motors.As he drove away from the dealership in the new car,the steering mechanism failed.Peter lost control of the car and plunged down an embankment.Peter was seriously injured.If Peter sues the car manufacturer under strict liability,what does he have to prove? Will Peter be successful?
(Essay)
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Van is using his wrench as a hammer when the wrench breaks and a piece flies off,injuring his neighbor who is helping Van change a tire on Van's car.If Van sues the tool manufacturer,its best defense will be:
(Multiple Choice)
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To form a valid contract for the sale of goods,if the acceptance contains a price or warranty term different from the term in the offer,the parties have to renegotiate until they reach agreement.
(True/False)
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Myrtle walks into Hank's Hardware Store and says,"I need metal storage shelves that can hold 500 pounds." Hank directs her to a metal storage shelving system.Myrtle buys the shelving recommended by Hank.When Myrtle puts 475 pounds of weight on the bottom shelf,it breaks.Hank's Hardware breached the warranty of merchantability.
(True/False)
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