Question 1

According to the Smith v.Penbridge Associates,Inc.case,future profits:

Accepted Answer

A) may never be included in consequential damages as they are too speculative.. 
B) may not be awarded as the UCC Section 2-715 prohibits them. 
C) may be awarded under UCC Section 2-715 (2) even though they cannot be calculated with accuracy. 
D) are always awarded as incidental damages. 
A) may never be included in consequential damages as they are too speculative.. 
B) may not be awarded as the UCC Section 2-715 prohibits them. 
C) may be awarded under UCC Section 2-715 (2) even though they cannot be calculated with accuracy. 
D) are always awarded as incidental damages.

Question 2

Which of the following is NOT a remedy available to the buyer?

Accepted Answer

A) Cure. 
B) Cover. 
C) Specific performance. 
D) Liquidated damages. 
A) Cure. 
B) Cover. 
C) Specific performance. 
D) Liquidated damages.

Question 3

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

Accepted Answer

the UCC does allow the parties to limit

Question 4

The Lile v.Kiesel case addressed the issue of:

Accepted Answer

A) cover. 
B) rejection. 
C) revocation. 
D) all of the above. 
A) cover. 
B) rejection. 
C) revocation. 
D) all of the above.

Question 5

If a seller cures within a reasonable amount of time:

Accepted Answer

A) the buyer retains the right to sue the seller for consequential damages. 
B) the contract has been performed. 
C) the buyer retains the right to cover. 
D) the contract is voidable at the buyer's option. 
A) the buyer retains the right to sue the seller for consequential damages. 
B) the contract has been performed. 
C) the buyer retains the right to cover. 
D) the contract is voidable at the buyer's option.

Question 6

The Code's requirement of good faith in the performance and enforcement of every contract imposes:

Accepted Answer

A) a greater duty on merchants than consumers. 
B) a greater duty on consumers than merchants. 
C) the same duty on both consumers and merchants. 
D) a greater duty on parties to a sales contract with the purchase price over $500. 
A) a greater duty on merchants than consumers. 
B) a greater duty on consumers than merchants. 
C) the same duty on both consumers and merchants. 
D) a greater duty on parties to a sales contract with the purchase price over $500.

According to the Smith v.Penbridge Associates,Inc.case,future profits:

Which of the following is NOT a remedy available to the buyer?

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

The Lile v.Kiesel case addressed the issue of:

If a seller cures within a reasonable amount of time:

The Code's requirement of good faith in the performance and enforcement of every contract imposes:

Introduction to Law

Business Ethics and Social Responsibility

Dispute Resolution

Common Law, statutory Law, and Administrative Law

Constitutional Law

Torts

Crime

International Law

Introduction to Contracts

Agreement

Consideration

Legality

Capacity and Consent

Written Contracts

Third Parties

Performance and Discharge

Remedies

Introduction to Sales

Ownership and Risk

Warranties and Product Liability

Creating a Negotiable Instrument

Liability for Negotiable Instruments

Liability for Negotiable Instruments: Banks and Their Customers

Secured Transactions

Bankruptcy

Agency

Employment Law

Starting a Business: Llcs and Other Options

Corporations

Securities Regulation

Property

Cyberlaw

Intellectual Property

Filters

Exam 21: Performance and Remedies

According to the Smith v.Penbridge Associates,Inc.case,future profits:

Which of the following is NOT a remedy available to the buyer?

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

The Lile v.Kiesel case addressed the issue of:

If a seller cures within a reasonable amount of time:

The Code's requirement of good faith in the performance and enforcement of every contract imposes:

Introduction to Law

Business Ethics and Social Responsibility

Dispute Resolution

Common Law, statutory Law, and Administrative Law

Constitutional Law

Torts

Crime

International Law

Introduction to Contracts

Agreement

Consideration

Legality

Capacity and Consent

Written Contracts

Third Parties

Performance and Discharge

Remedies

Introduction to Sales

Ownership and Risk

Warranties and Product Liability

Creating a Negotiable Instrument

Liability for Negotiable Instruments

Liability for Negotiable Instruments: Banks and Their Customers

Secured Transactions

Bankruptcy

Agency

Employment Law

Starting a Business: Llcs and Other Options

Corporations

Securities Regulation

Property

Cyberlaw

Intellectual Property

Filters