Question 1

A buyer may revoke an acceptance of goods if:

Accepted Answer

A)  the nonconformity does not impair the value of the goods. 
B)  the buyer had a legitimate reason for the initial acceptance. 
C)  the buyer knew the nonconformity could not be cured. 
D)  the buyer thought they could easily cover. 
A)  the nonconformity does not impair the value of the goods. 
B)  the buyer had a legitimate reason for the initial acceptance. 
C)  the buyer knew the nonconformity could not be cured. 
D)  the buyer thought they could easily cover.

Question 2

Leonna orders five table settings of china from Elite China.Each set includes a dinner plate,cup & saucer,bowl,and dessert plate.The china is sold only in sets.When the delivery arrives,Leonna discovers that Elite China sent the wrong pattern.Leonna immediately calls Elite China and is instructed to send the shipment back.While repacking the shipment,Leonna changes her mind and decides to keep the cups and saucers.She returns everything else.Can she do this?

Accepted Answer

Probably not.If the set is seen as a com

Question 3

Under the doctrine of commercial impracticability,which situation would not excuse the seller's performance?

Accepted Answer

A)  The seller forgot to include the cost of freight in a C&F contract. 
B)  The seller's source of supply is no longer available because of a governmental embargo prohibiting an export from another country. 
C)  The seller cannot deliver because severe flooding wiped out three-fourths of the state's produce. 
D)  The seller's workforce is out on an unexpected strike. 
A)  The seller forgot to include the cost of freight in a C&F contract. 
B)  The seller's source of supply is no longer available because of a governmental embargo prohibiting an export from another country. 
C)  The seller cannot deliver because severe flooding wiped out three-fourths of the state's produce. 
D)  The seller's workforce is out on an unexpected strike.

Question 4

A buyer who is unable to obtain cover:

Accepted Answer

A)  will be limited to the remedy of incidental damages. 
B)  will be limited to the remedy of consequential damages. 
C)  will lose the money or goods invested in the breached contract. 
D)  may be allowed the remedy of specific performance. 
A)  will be limited to the remedy of incidental damages. 
B)  will be limited to the remedy of consequential damages. 
C)  will lose the money or goods invested in the breached contract. 
D)  may be allowed the remedy of specific performance.

Question 5

Discuss the UCC rules on the limitation of damages in a contract.

Accepted Answer

The UCC does allow the parties to limit

Question 6

If Chuck buys frozen cheese from Cheese Inc.,then fails to inspect the cheese within a reasonable amount of time and does not reject the shipment,Chuck has accepted the shipment even if there is non-conformity.

Accepted Answer

A) True 
 B)False

Exam 23: Performance And Remedies

A buyer may revoke an acceptance of goods if:

Under the doctrine of commercial impracticability,which situation would not excuse the seller's performance?

A buyer who is unable to obtain cover:

Discuss the UCC rules on the limitation of damages in a contract.

If Chuck buys frozen cheese from Cheese Inc.,then fails to inspect the cheese within a reasonable amount of time and does not reject the shipment,Chuck has accepted the shipment even if there is non-conformity.

Introduction To Law

Business Ethics And Social Responsibility

Dispute Resolution

Common Law,Statutory Law,And Administrative Law

Constitutional Law

Intentional Torts And Business Torts

Negligence And Strict Liability

Crime

International Law

Introduction To Contracts

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Remedies

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Introduction To Sales

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Creating A Negotiable Instrument

Liability For Negotiable Instruments

Accountants' Liability

Agency Law

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Starting A Business

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