Exam 22: Nature and Form of Sales

Carol,who is planning to move out of town,offers to sell her sofa to her friend Betty for $750.Betty says,"I'll take it,and I would like you to throw in the coffee table along with it." Under Article 2 of the UCC,Carol and Betty have:

To satisfy the statute of frauds,the writing must be signed and must include the price of the goods.

A sales agreement that does not satisfy the statute of frauds is:

A writing that is offered to satisfy the statute of frauds must have been written for that purpose.

An offer to buy or sell goods may be accepted in any manner that is reasonable under the circumstances.

______ is a transfer of possession - but not title - to personal property.

When an oral contract is made to sell a 75-inch LED LCD TV for $6,800,payment and acceptance of part of the purchase price avoids the bar of the statute of frauds.

A bailment is a special form of a sale of goods in which possession is transferred to a bailee.

An agreement to periodically deliver home-heating oil to a residential customer that does not indicate the duration of the contract

Suppose a merchant is about to transfer his entire inventory as part of an annual clearance action.This transfer is called a bulk transfer.

A sales contract must be evidenced by a writing if the sales price of goods is equal to or more than:

Defenses raised in a suit based on a sales contract differ greatly from defenses used in regard to any other type of contract.

If a contract for the sale of goods omits the price to be paid,the: ______.

When the price of the goods is $500 or more,a writing signed by the defendant is required in all cases.

A gift is a free transfer of the title to property.

A sale of goods is defined under UCC Article 2 as transfer of title to intangible property for a price.

The parol evidence rule does not apply to the sale of goods.

Harvested crops would be an example of ______.

Consumer protection statutes may require a writing that is more detailed than the writing required by the statute of frauds provision of the Uniform Commercial Code.

Which term is not required in a writing in order to satisfy the statute of frauds?