Exam 23: Nature and Form of Sales

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

An output or requirement contract is not enforceable unless the parties include an estimate of prospective amounts.

A contract for the sale of goods is not enforceable unless the contract clearly expresses the price.

A contract of indefinite duration may be terminated by notice from either party to the other party.

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

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

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

Article 2 of the Uniform Commercial Code applies to the sale of:

Which of the following is not a sale of goods?

A transfer of possession, but not title, is called:

A bill of sale can be used as proof of an otherwise oral agreement.

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.

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

The express period of irrevocability in a firm offer cannot exceed __________ month(s).

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

When an oral contract is made to sell a television set for $600, payment and acceptance of part of the purchase price avoids the bar of the statute of frauds.

With regard to transactions between merchants, failure to repudiate a confirming letter within ten (10) days after receipt binds the non-signing merchant, just as if he had signed the letter or a contract.

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

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

An illegal sale: