Question 1

To which of the following does Article 2 of the UCC apply?

Accepted Answer

A)  The sale of goods. 
B)  The rendering of services. 
C)  The sale of land. 
D)  Both the sale of goods and the rendering of services. 
A)  The sale of goods. 
B)  The rendering of services. 
C)  The sale of land. 
D)  Both the sale of goods and the rendering of services.

Question 2

A(n)__________ places the license terms on the outside of a box containing software.

Accepted Answer

A)  click-wrap license 
B)  browse-wrap agreement 
C)  shrink-wrap license 
D)  computer-license agreement 
A)  click-wrap license 
B)  browse-wrap agreement 
C)  shrink-wrap license 
D)  computer-license agreement

Question 3

Under the UCC,the __________ term(s)must be in a writing order to satisfy the statute of frauds.

Accepted Answer

A)  price 
B)  quantity 
C)  identity of the parties 
D)  time and place for delivery 
A)  price 
B)  quantity 
C)  identity of the parties 
D)  time and place for delivery

Question 4

A contract for the sale of land is governed by Article 2 of the UCC.

Accepted Answer

A) True 
 B)False

Question 5

Chris sold Valerie a home containing a wood stove which could not be removed from the home without causing substantial damage.Shortly after the sale,Valerie sustained significant smoke damage due to a malfunction of the stove.She told Chris that she was going to sue him under the UCC.Chris told her that was not possible.Which of the following is true?

Accepted Answer

A)  Chris is correct because the stove would likely be a fixture not covered by the UCC. 
B)  Valerie is correct because the stove would likely be a fixture covered by the UCC. 
C)  Valerie is correct because the stove would not be considered a fixture and would, therefore, be covered by the UCC. 
D)  Valerie is correct because the sale of the home would be covered under the UCC along with anything else sold with the home. 
A)  Chris is correct because the stove would likely be a fixture not covered by the UCC. 
B)  Valerie is correct because the stove would likely be a fixture covered by the UCC. 
C)  Valerie is correct because the stove would not be considered a fixture and would, therefore, be covered by the UCC. 
D)  Valerie is correct because the sale of the home would be covered under the UCC along with anything else sold with the home.

Question 6

According to the UCC,if no amount of time is specifically stated,a firm offer provided by a merchant must be kept open for a reasonable period of time,up to:

Accepted Answer

A)  one year. 
B)  six months. 
C)  three months. 
D)  sixty days. 
A)  one year. 
B)  six months. 
C)  three months. 
D)  sixty days.

Question 7

Polly sold Jason a used car for $1,000.Their contract provided that the engine in the car was in good shape,a true statement as far as Polly knew.Unfortunately,the day after Jason purchased the car,it broke down and was discovered to have significant engine problems.Jason told Polly that he wanted a refund.Polly told him that he was not entitled to a refund because she did not lie and that as far as she knew,there was nothing wrong with the car.Which of the following is true?

Accepted Answer

A)  Jason is entitled to a refund because of a breach of an express warranty. 
B)  Jason is entitled to a refund because of a breach of the implied warranty of fitness for a particular purpose. 
C)  Jason is entitled to a refund only if he can obtain evidence that Polly lied. 
D)  Jason is not entitled to a refund under any circumstances because the vehicle was used. 
A)  Jason is entitled to a refund because of a breach of an express warranty. 
B)  Jason is entitled to a refund because of a breach of the implied warranty of fitness for a particular purpose. 
C)  Jason is entitled to a refund only if he can obtain evidence that Polly lied. 
D)  Jason is not entitled to a refund under any circumstances because the vehicle was used.

Question 8

What is the rule regarding the enforceability of a contract for the sale of goods that comes within the statute of frauds if no quantity is specified?

Accepted Answer

If no quantity is specified,the contract

Question 9

Which of the following is true regarding the UETA in relation to the E-SIGN Act?

Accepted Answer

A)  Because the UETA is a federal law, whereas the E-Sign Act is a creature of state law, the UETA preempts the E-Sign Act in many ways. 
B)  The UETA and also the E-Sign Act exclude wills from their coverage. 
C)  Both the UETA and the E-Sign Act include within their broad scope provisions that divorces may be entered into and recorded electronically. 
D)  The UETA allows electronic signatures whereas the E-Sign Act disallows such signatures. 
A)  Because the UETA is a federal law, whereas the E-Sign Act is a creature of state law, the UETA preempts the E-Sign Act in many ways. 
B)  The UETA and also the E-Sign Act exclude wills from their coverage. 
C)  Both the UETA and the E-Sign Act include within their broad scope provisions that divorces may be entered into and recorded electronically. 
D)  The UETA allows electronic signatures whereas the E-Sign Act disallows such signatures.

Question 10

A contract is __________ if its terms are unduly harsh or oppressive or unreasonably favorable to one side.

Accepted Answer

A)  substantively unconscionable 
B)  procedurally unconscionable 
C)  procedurally impracticable 
D)  substantively impracticable 
A)  substantively unconscionable 
B)  procedurally unconscionable 
C)  procedurally impracticable 
D)  substantively impracticable

Question 11

If the contracted goods are unique and fail to be delivered,the buyer can ask a court under 2-716 of the UCC to order:

Accepted Answer

A)  allocation of risk of loss. 
B)  consequential damages. 
C)  cover. 
D)  specific performance. 
A)  allocation of risk of loss. 
B)  consequential damages. 
C)  cover. 
D)  specific performance.

Question 12

The UCC has adopted the "mirror image" rule.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is the essential consideration under the UETA for determining the validity of an electronic signature?

Accepted Answer

A)  Whether the person intended the process or mark provided to act as a signature and whether it can be attributed to that person. 
B)  Whether an actual signature, as opposed to some sort of unacceptable click-type agreement is involved. 
C)  Whether an actual written type signature appears as opposed to an unacceptable typed name. 
D)  Whether an actual written or typed signature appears as opposed to some sort of facsimile. 
A)  Whether the person intended the process or mark provided to act as a signature and whether it can be attributed to that person. 
B)  Whether an actual signature, as opposed to some sort of unacceptable click-type agreement is involved. 
C)  Whether an actual written type signature appears as opposed to an unacceptable typed name. 
D)  Whether an actual written or typed signature appears as opposed to some sort of facsimile.

Question 14

Under Section 2-207(2),if only one party is a merchant,an acceptance containing additional terms:

Accepted Answer

A)  automatically becomes part of the contract unless the offeror objects within ten days. 
B)  is considered a proposal for additions to the contract. 
C)  is a counteroffer. 
D)  has no effect and the contract is accepted without the new terms. 
A)  automatically becomes part of the contract unless the offeror objects within ten days. 
B)  is considered a proposal for additions to the contract. 
C)  is a counteroffer. 
D)  has no effect and the contract is accepted without the new terms.

Question 15

__________ are items of personal property attached to real property that cannot be removed without substantial damage.

Accepted Answer

A)  Connectors 
B)  Relaters 
C)  Entanglements 
D)  Fixtures 
A)  Connectors 
B)  Relaters 
C)  Entanglements 
D)  Fixtures

Question 16

If a sales contract requires or authorizes the seller to ship goods by carrier,when does the risk of loss pass to the buyer if the contract does not require delivery at a particular destination?

Accepted Answer

A)  At the time the goods are properly delivered to the carrier. 
B)  At the time the carrier tenders the goods to the buyer. 
C)  At the time the contract is initially entered into. 
D)  Not until the buyer has received the goods and had a chance to inspect them. 
A)  At the time the goods are properly delivered to the carrier. 
B)  At the time the carrier tenders the goods to the buyer. 
C)  At the time the contract is initially entered into. 
D)  Not until the buyer has received the goods and had a chance to inspect them.

Question 17

A product liability action brought in tort generally permits recovery of economic damages suffered by a purchaser of an inferior or defective product whereas a breach of warranty action would not allow such a claim.

Accepted Answer

A) True 
 B)False

Question 18

As defined by the UCC,"good faith" involves the observance of objective reasonable commercial standards of fair dealing but there is no requirement as to honesty in fact.

Accepted Answer

A) True 
 B)False

Question 19

UCC Section 2-319 expressly authorizes the buyer and seller to allocate the __________ between them as they see fit.

Accepted Answer

A)  damages 
B)  specific performance 
C)  modification 
D)  risk of loss 
A)  damages 
B)  specific performance 
C)  modification 
D)  risk of loss

Question 20

Procedural unconscionability is easier to prove in a commercial setting than when an individual consumer is involved.

Accepted Answer

A) True 
 B)False

Exam 8: Sales, Licensing, and E-Commerce.

To which of the following does Article 2 of the UCC apply?

A(n)__________ places the license terms on the outside of a box containing software.

Under the UCC,the __________ term(s)must be in a writing order to satisfy the statute of frauds.

A contract for the sale of land is governed by Article 2 of the UCC.

According to the UCC,if no amount of time is specifically stated,a firm offer provided by a merchant must be kept open for a reasonable period of time,up to:

What is the rule regarding the enforceability of a contract for the sale of goods that comes within the statute of frauds if no quantity is specified?

Which of the following is true regarding the UETA in relation to the E-SIGN Act?

A contract is __________ if its terms are unduly harsh or oppressive or unreasonably favorable to one side.

If the contracted goods are unique and fail to be delivered,the buyer can ask a court under 2-716 of the UCC to order:

The UCC has adopted the "mirror image" rule.

Which of the following is the essential consideration under the UETA for determining the validity of an electronic signature?

Under Section 2-207(2),if only one party is a merchant,an acceptance containing additional terms:

__________ are items of personal property attached to real property that cannot be removed without substantial damage.

If a sales contract requires or authorizes the seller to ship goods by carrier,when does the risk of loss pass to the buyer if the contract does not require delivery at a particular destination?

A product liability action brought in tort generally permits recovery of economic damages suffered by a purchaser of an inferior or defective product whereas a breach of warranty action would not allow such a claim.

As defined by the UCC,"good faith" involves the observance of objective reasonable commercial standards of fair dealing but there is no requirement as to honesty in fact.

UCC Section 2-319 expressly authorizes the buyer and seller to allocate the __________ between them as they see fit.

Procedural unconscionability is easier to prove in a commercial setting than when an individual consumer is involved.

Law, Value Creation, and Risk Management.

Ethics and the Law.

Sources of Law, Courts, and Dispute Resolution.

Constitutional Bases for Business Regulation.

Agency.

Administrative Law.

Contracts.

Torts and Privacy Protection.

Product Liability.

Intellectual Property.

The Employment Agreement.

Civil Rights and Employment Discrimination.

Criminal Law.

Environmental Law and Sustainability.

Antitrust.

Consumer Protection.

Real Property and Land Use.

Forms of Business Organizations.

Directors, Officers, and Controlling Shareholders.

Public and Private Offerings of Securities.

Securities Fraud and Insider Trading.

Debtor-Creditor Relations and Bankruptcy.

International Law and Transactions.

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