Question 1

__________ represents a pattern of performance between the parties to a contract.

Accepted Answer

A)  Course of dealing 
B)  Usage of trade 
C)  Course of trade 
D)  Usage of dealing 
A)  Course of dealing 
B)  Usage of trade 
C)  Course of trade 
D)  Usage of dealing

Question 2

To satisfy the statute of frauds,the writing must be signed and must include the price of the goods.

Accepted Answer

A) True 
 B)False

Question 3

The CISG:

Accepted Answer

A)  governs all contracts between parties in countries that have ratified it. 
B)  applies only to goods bought for personal,family or household uses. 
C)  applies to contracts in which the predominant part of the obligation is the supply of labor or other services. 
D)  none of the above. 
A)  governs all contracts between parties in countries that have ratified it. 
B)  applies only to goods bought for personal,family or household uses. 
C)  applies to contracts in which the predominant part of the obligation is the supply of labor or other services. 
D)  none of the above.

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Additional terms in acceptance of an offer for non-merchants:

Accepted Answer

A)  automatically result in rejection of the offer. 
B)  forms a contract based on the original offer 
C)  forms a contract that includes the additional terms. 
D)  none of the above. 
A)  automatically result in rejection of the offer. 
B)  forms a contract based on the original offer 
C)  forms a contract that includes the additional terms. 
D)  none of the above.

Question 6

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

Accepted Answer

A)  contract is void because it is too indefinite to be enforced. 
B)  buyer is required to pay a reasonable price for the goods. 
C)  buyer can pay whatever price the buyer in good faith believes is a proper price. 
D)  seller can rightfully charge whatever price the seller in good faith believes is a proper price. 
A)  contract is void because it is too indefinite to be enforced. 
B)  buyer is required to pay a reasonable price for the goods. 
C)  buyer can pay whatever price the buyer in good faith believes is a proper price. 
D)  seller can rightfully charge whatever price the seller in good faith believes is a proper price.

Question 7

The provisions of Article 6 concerning bulk transfers are designed to protect creditors.

Accepted Answer

A) True 
 B)False

Question 8

Sales law includes special rules that apply to merchants.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Gonzalez Manufacturing negotiated by telephone to purchase approximately $7,000 worth of digital video recorders from Video Imports.The final details were worked out by telephone calls on April 2nd.On April 4th,Video sent Gonzalez a confirmation of their telephone agreement,which included pertinent details.Meanwhile,on April 3rd,Gonzalez was offered a better deal than Video's and accepted it.Upon arrival of the confirmation on April 6th,Gonzalez ignored it and did nothing further until May 1st,the date before Video was to deliver.On May 1st,Gonzalez informed Video that their contract was an unenforceable oral contract and that delivery would not be accepted.
When attempts to amicably settle the matter failed,Video sued Gonzalez for breach of contract.Decide.

Accepted Answer

Ordinarily,a sales contract of $5,000 or

Question 11

Goods physically existing and owned by a seller at the time of a transaction are called existing goods.

Accepted Answer

A) True 
 B)False

Question 12

When the price of the goods is $500 or more,a writing signed by the defendant is required in all cases.

Accepted Answer

A) True 
 B)False

Question 13

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.

Accepted Answer

A) True 
 B)False

Question 14

Consumer protection statutes may require a writing that is more detailed than the writing required by the statute of frauds provision of the Uniform Commercial Code.

Accepted Answer

A) True 
 B)False

Question 15

A sales contract must be evidenced by a writing if the sales price of goods is equal to or more than:

Accepted Answer

A)  $100. 
B)  $1,000. 
C)  $500. 
D)  $5,000. 
A)  $100. 
B)  $1,000. 
C)  $500. 
D)  $5,000.

Question 16

Consumer leases:

Accepted Answer

A)  must always be evidenced by a writing. 
B)  are always three- party transactions. 
C)  require the lessor to make all usual warranties made by a seller in a sale of goods.. 
D)  all of the above. 
A)  must always be evidenced by a writing. 
B)  are always three- party transactions. 
C)  require the lessor to make all usual warranties made by a seller in a sale of goods.. 
D)  all of the above.

Question 17

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.

Accepted Answer

A) True 
 B)False

Question 18

An agreement to modify a contract for the sale of goods:

Accepted Answer

A)  is only binding if supported by consideration. 
B)  has to be voluntary in order to be enforceable. 
C)  is only binding if the original contract is invalid. 
D)  all of the above. 
A)  is only binding if supported by consideration. 
B)  has to be voluntary in order to be enforceable. 
C)  is only binding if the original contract is invalid. 
D)  all of the above.

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 23: Nature and Form of Sales

__________ represents a pattern of performance between the parties to a contract.

To satisfy the statute of frauds,the writing must be signed and must include the price of the goods.

The CISG:

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

Additional terms in acceptance of an offer for non-merchants:

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

The provisions of Article 6 concerning bulk transfers are designed to protect creditors.

Sales law includes special rules that apply to merchants.

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

Goods physically existing and owned by a seller at the time of a transaction are called existing goods.

When the price of the goods is $500 or more,a writing signed by the defendant is required in all cases.

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.

Consumer protection statutes may require a writing that is more detailed than the writing required by the statute of frauds provision of the Uniform Commercial Code.

A sales contract must be evidenced by a writing if the sales price of goods is equal to or more than:

Consumer leases:

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.

An agreement to modify a contract for the sale of goods:

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

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

The Nature and Sources of Law

The Court System and Dispute Resolution

Business Ethics, Social Forces, and the Law

The Constitution As the Foundation of the Legal Environment

Government Regulation of Competition and Prices

Administrative Agencies

The Legal Environment of International Trade

Crimes

Torts

Intellectual Property Rights

Cyberlaw

Nature and Classes of Contracts: Contracting on the Internet

Formation of Contracts: Offer and Acceptance

Capacity and Genuine Assent

Consideration

Legality and Public Policy

Writing, Electronic Forms, and Interpretation of Contracts

Third Persons and Contracts

Discharge of Contracts

Breach of Contract and Remedies

Personal Property and Bailments

Legal Aspects of Supply Chain Management

Title and Risk of Loss

Product Liability: Warranties and Torts

Obligations and Performance

Remedies for Breach of Sales Contracts

Kinds of Instruments, parties, and Negotiability

Transfers of Negotiable Instruments and Warranties of Parties

Liability of the Parties Under Negotiable Instruments

Checks and Funds Transfers

Nature of the Debtor-Creditor Relationship

Consumer Protection

Secured Transactions in Personal Property

Bankruptcy

Insurance

Agency

Third Persons in Agency

Regulation of Employment

Equal Employment Opportunity Law

Types of Business Organizations

Partnerships

LPs, LLCs, and LLPs

Corporate Formation

Shareholder Rights in Corporations

Securities Regulation

Accountants Liability and Malpractice

Management of Corporations

Real Property

Environmental Law and Land Use Controls

Leases

Decedents Estates and Trusts

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