Exam 20: The Formation of Sales and Lease Contracts

A firm offer by a merchant may be oral.

The UCC requires that the mirror image rule be followed for all acceptances.

Fresh Dairy,Inc.,is the offeror and Gelato Ice Cream Company is the offeree under a unilateral sales contract in which Hector's Helado Corporation is also interested. Gelato is not notified of Fresh Dairy's performance within a rea-son-able time. Gelato

Under the United Nations Convention on Contracts for the International Sale of Goods,there are no irrevocable offers.

Bram buys a bulldozer from Construction Equipment Corporation,which he leases to Earth Movers,Inc. In this situation,the lessee is

A lessoris a party who acquires a right to the possession and use of goods under a lease.

County Dentists Clinic offers to buy from Dental & Medical Supplies Company a certain quantity of floss and other items for a certain price. Dental & Medical can ac-cept the offer by

Under the UCC,an agreement modifying a contract needs new considera¬tion to be binding.

TalkTalk,Inc.,offers to buy from Voice Media Corporation (VMC)100,000 smartphones. Without notifying TalkTalk,VMC timely ships phones of a different quality. With respect to the offer and a possible contract,this shipment is an acceptance and

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

Quinn enters into a series of agreements with Reba involving a sale of a Suite Dreams Motel,including the land,building,furnishings,shares of stock in Suite Dreams Company,and a contract with Trudy to create an ad campaign. Reba suspects that Quinn may be misrepresenting the facts. The UCC Statute of Frauds governs

Under the UCC,an offeree can accept an offer to buy goods by a prompt shipment of conforming goods.

Brian,an agent for Clarion Motors,Inc.,writes a letter to Dina on November 1 stating that he will sell her a 2016 Subaru Outback for $20,000 between November 1 and December 31. Brian's letter to Dina is

Katlyn pays Mobile Edge Electronics $500 for a tablet. Under the UCC,this is

According to the UCC,one open term will cause a sales con-tract to fail for indefiniteness.

The rules governing firm offers apply to all merchants.

Car n' Truck Body & Paint Company orders custom paint from Diverse Hues Inc.,but Diverse does not deliver. Car n' Truck will probably be unable to enforce the agreement if the parties omitted

All oral contracts are enforceable under the UCC.

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

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