Exam 18: Introduction to Sales and Lease Contracts

Under the UCC,a contract for a sale of goods that does not include the quantity will not fail for indefiniteness.

A court can refuse to enforce a contract that the court deems to have been unconscionable at the time it was made.

A contract for the sale of minerals is considered to be a contract for the sale of goods if the severance is to be made by the seller.

Marine Expeditions,Inc.,pays Nate's Boats $4,000 to use an oceangoing vessel for a month.For the purposes of the UCC,this is 

Savannah and Tim enter into a sales contract for orchids.With respect to the specific contractual provisions set out in the UCC,Savannah and Tim may 

Downtown Contractors and Equipment Rental Corporation are parties to an oral agreement for a one-year lease of a crane with payments totaling more than $10,000.They may satisfy the Statute of Frauds by 

Dave leases a bulldozer from Construction Rentals,Inc.Wilson from Construction Rentals delivers the bulldozer to Dave,but does not collect any money.Sally from Construction Rentals picks up the bulldozer from Dave and collects the payment for the lease from Dave on behalf of Construction Rentals.In this situation,the lessee is 

If the parties to a contract for a sale of goods have not agreed on a price,a court will determine a reasonable price at the time for delivery.

Quality Metals Company and Superior Fabrication,Inc.,enter into a contract under which Quality Metals agrees to deliver a certain quantity of sheet metal to Superior Fabrication each month.The contract does not include a price term.In a suit between the parties over the price,a court will 

For an item to be characterized as a "good" under the UCC,it must be intangible. 

Wilbert has a lot of property that he wishes to sell.He sells his car to John for $5,000.He sells his bike to Shelby for $600.He sells his extensive vinyl records collection to Dixie May for $1,000.He sells a patent to a device for organizing digital music files to Gary for $400.NOT covered by Article 2 or 2A of the UCC is Wilbert's sale of 

Under the UCC,a sale is the passing of title from a seller to a buyer for a price.

Goods associated with real estate often fall within the scope of Article 2.

Nature's Products,Inc.,sends its standard order form to Interbusiness Distribution Corporation (IDC)to evidence a sale of packing materials.IDC responds with its own standard purchase order form.Additional terms in the purchase order automatically become part of the contract unless 

The terms of a fully integrated contract can be contradicted by evidence of any prior agreements.

Goods associated with real estate never fall within the scope of UCC Article 2.

Intangible property has conceptual existence and thus comes under Article 2.

Perfect Potato Chip Company makes an offer that Snack Foods Corporation would like to accept.Under the "mirror image rule" relating to offer and acceptance,an acceptance 

Trend-Rite Clothiers,Inc.,sells t-shirts to Brand Name Stores,Inc.,under an existing contract.When textile costs increase,Brand agrees to a price increase,but later wants to cancel the contract.Brand may 

UCC Article 2 applies to sales transactions between all buyers and sellers.