Exam 23: Nature and Form of Sales

A contract that has elements of both goods and services is always classified as a contract for the sale of goods.

A gift is a free transfer of the title to property.

All goods other than those existing and owned by a seller at the time of a transaction are called:

A writing that is offered to satisfy the statute of frauds must have been written for that purpose.

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

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

An offer to buy or sell goods may be accepted in any manner that is reasonable under the circumstances.

Under Article 2 of the UCC, in a situation where it is clear that the parties intended a contract, but a term in the acceptance conflicts with a term in the offer:

A firm offer is effective only if the merchant receives consideration to keep the offer open.

The parol evidence rule does not apply to the sale of goods.

A transfer of possession, but not title, is called:

A contract of indefinite duration may be terminated by notice from either party to the other party.

The express period of irrevocability in a firm offer cannot exceed __________ month(s).