Exam 22: Nature and Form of Sales

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

Sales law includes special rules that apply to merchants.

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

A firm offer is effective for three months, but only if the merchant receives consideration.

Gonzalez Manufacturing negotiated by telephone to purchase approximately $7,000 worth of digital video recorders from Video Imports. The final details were worked out by telephone calls on April 2nd. On April 4th, Video sent Gonzalez a confirmation of their telephone agreement, which included pertinent details. Meanwhile, on April 3rd, Gonzalez was offered a better deal than Video's and accepted it. Upon arrival of the confirmation on April 6th, Gonzalez ignored it and did nothing further until May 1st, the date before Video was to deliver. On May 1st, Gonzalez informed Video that their contract was an unenforceable oral contract and that delivery would not be accepted.?When attempts to amicably settle the matter failed, Video sued Gonzalez for breach of contract. Decide.

The CISG governs all contracts between parties in the countries that have ratified it.

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

Harvested crops would be an example of ______.

If a contract calls for both rendering services and supplying materials to be used in performing the services, the contract is classified according to its dominant element.

The UCC permits a court to refuse to enforce a sales contract that it finds to be unconscionable.

To satisfy the statute of frauds, the writing must be signed and must include the price of the 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 parol evidence rule does not apply to the sale of goods.

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

All of the following are covered by Article 2 of the UCC except: ______.

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

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.

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

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.