Exam 23: Nature and Form of Sales

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.

An oral contract to sell custom-made goods to a buyer is binding if the goods are not suitable for sale to anyone else in the ordinary course of the seller's business,and the seller has made a substantial beginning in manufacturing or procuring the goods.

If a contract for the sale of goods does not state the price to be paid,the:

As a general rule,courts will __________ in recovering money or property transferred under an illegal agreement.

A sale of goods is defined under UCC Article 2 as transfer of title to intangible property for a price.

When a term of an acceptance conflicts with a term of an offer but it is clear that the parties intended to be bound by a contract,the UCC still recognizes the formation of a contract,and the conflicting terms cancel each other and are ignored.

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

A merchant cannot revoke a firm offer to buy or sell goods if the merchant has:

A sales agreement that does not satisfy the statute of frauds is:

Which of the following situations create(s)an exception to the statute of frauds writing requirement?

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

A contract for the sale of goods is not enforceable unless the contract clearly expresses the price.

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