Question 1

A contract involving both services and goods is classified as a contract for the sale of goods if:

Accepted Answer

A)  the services are to be performed upon the goods. 
B)  the services cannot be performed unless the goods are supplied. 
C)  no charge is made for the services. 
D)  the sale of goods is the dominant aspect of the transaction. 
A)  the services are to be performed upon the goods. 
B)  the services cannot be performed unless the goods are supplied. 
C)  no charge is made for the services. 
D)  the sale of goods is the dominant aspect of the transaction.

Question 2

As a general rule,courts will __________ in recovering money or property transferred under an illegal agreement.

Accepted Answer

A)  assist a commercial buyer 
B)  assist a non-commercial buyer 
C)  assist an institutional buyer 
D)  not aid either party 
A)  assist a commercial buyer 
B)  assist a non-commercial buyer 
C)  assist an institutional buyer 
D)  not aid either party

Question 3

The CISG:

Accepted Answer

A)  governs all contracts between parties in countries that have ratified it. 
B)  applies only to goods bought for personal, family or household uses. 
C)  applies to contracts in which the predominant part of the obligation is the supply of labor or other services. 
D)  None of these. 
A)  governs all contracts between parties in countries that have ratified it. 
B)  applies only to goods bought for personal, family or household uses. 
C)  applies to contracts in which the predominant part of the obligation is the supply of labor or other services. 
D)  None of these.

Question 4

UCC Article 2 applies not only to contracts for the sale of familiar items of personal property,such as automobiles or chairs,but also to the transfer of commodities,such as oil,gasoline,milk,and grain.

Accepted Answer

A) True 
 B)False

Question 5

__________ represents a pattern of performance between the parties to a contract.

Accepted Answer

A)  Course of dealing 
B)  Usage of trade 
C)  Course of trade 
D)  Usage of dealing 
A)  Course of dealing 
B)  Usage of trade 
C)  Course of trade 
D)  Usage of dealing

Question 6

All of the following satisfy the Statute of Frauds' except: ______.

Accepted Answer

A)  merchant's confirmation memo 
B)  signed, faxed letters 
C)  authenticated emails 
D)  a record that omits quantity 
A)  merchant's confirmation memo 
B)  signed, faxed letters 
C)  authenticated emails 
D)  a record that omits quantity

Question 7

Sales law includes special rules that apply to merchants.

Accepted Answer

A) True 
 B)False

Question 8

An agreement to modify a contract for the sale of goods that is not supported by consideration: ______.

Accepted Answer

A)  is only binding if supported by consideration. 
B)  is binding as long as it's voluntary. 
C)  is only binding if the original contract is invalid. 
D)  is binding only if enforced by a court. 
A)  is only binding if supported by consideration. 
B)  is binding as long as it's voluntary. 
C)  is only binding if the original contract is invalid. 
D)  is binding only if enforced by a court.

Question 9

A contract for the sale of goods is enforceable even if the price is "open."

Accepted Answer

A) True 
 B)False

Question 10

A contract that has elements of both goods and services is always classified as a contract for the sale of goods.

Accepted Answer

A) True 
 B)False

Question 11

Goods physically existing and owned by a seller at the time of a transaction are called existing goods.

Accepted Answer

A) True 
 B)False

Question 12

Janet Durham orally agreed to purchase certain computer hardware priced at $10,000 from Ted Stallings.The sale of the hardware also included a one-time setup service visit priced at $100.The total contract price amounted to $10,100.The computer hardware was delivered and set up,and Durham paid $10,100.Afterwards,Durham discovered that she could obtain the same goods and services from another seller for a total contract price of $9,100.She now seeks rescission of the contract,based on the fact that more than $500 in goods were involved in the sales transaction,that the contract between her and Stallings was subject to the statute of frauds as a result,and that the oral agreement between them was therefore unenforceable.Durham wants to return the computer hardware to Stallings,and receive reimbursement of $10,000 (She is willing to waive her claim to reimbursement for the $100 setup service visit.)Evaluate Durham's legal position in this matter.

Accepted Answer

A contract for services is not governed

Question 13

The provisions of Article 6 concerning bulk transfers are designed to protect creditors.

Accepted Answer

A) True 
 B)False

Exam 22: Nature and Form of Sales

A contract involving both services and goods is classified as a contract for the sale of goods if:

As a general rule,courts will __________ in recovering money or property transferred under an illegal agreement.

The CISG:

UCC Article 2 applies not only to contracts for the sale of familiar items of personal property,such as automobiles or chairs,but also to the transfer of commodities,such as oil,gasoline,milk,and grain.

__________ represents a pattern of performance between the parties to a contract.

All of the following satisfy the Statute of Frauds' except: ______.

Sales law includes special rules that apply to merchants.

An agreement to modify a contract for the sale of goods that is not supported by consideration: ______.

A contract for the sale of goods is enforceable even if the price is "open."

A contract that has elements of both goods and services is always classified as a contract for the sale of goods.

Goods physically existing and owned by a seller at the time of a transaction are called existing goods.

The provisions of Article 6 concerning bulk transfers are designed to protect creditors.

The Nature and Sources of Law

The Court System and Dispute Resolution

Business Ethics, Social Forces and the Law

The Constitution as the Foundation of the Legal Environment

Government Regulation of Competition and Prices

Administrative Agencies

Crimes

Torts

Intellectual Property Rights and the Internet

The Legal Environmental of International Trade

Nature and Classes of Contracts: Contracting on the Internet

Formation of Contracts: Offer and Acceptance

Capacity and Genuine Assent

Consideration

Legality and Public Policy

Writing, Electronic Forms, and Interpretation of Contracts

Third Persons and Contracts

Discharge of Contracts

Breach of Contract and Remedies

Personal Property and Bailments

Legal Aspects of Supply Chain Management

Title and Risk of Loss

Product Liability: Warranties and Torts

Obligations and Performance

Remedies for Breach of Sales Contracts

Kinds of Negotiable Instruments and Negotiability

Transfers of Negotiable Instruments and Warranties of Parties

Liability of the Parties Under Negotiable Instruments

Checks and Funds Transfers

Nature of the Debtor Creditor Relationship

Consumer Protection

Secured Transactions in Personal Property

Bankruptcy

Insurance

Agency

Third Persons in Agency

Regulation of Employment

Equal Employment Opportunity Law

Types of Business Organizations

Partnerships

LPs, LLCs, and LLPs

Corporate Formation

Shareholder Rights in Corporations

Securities Regulation

Accountants' Liability and Malpractice

Management of Corporations

Real Property

Environmental Law and Land Use Controls

Leases

Decedents' Estates and Trusts

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