Exam 16: Sales and Lease Contracts: Performance, Warranties, and Remedies

Under the Uniform Commercial Code,________ requires that the seller have and hold conforming goods at the disposal of the buyer and give the buyer reasonable notification to enable him or her to take delivery.

According to the Uniform Commercial Code,if goods are identified at the time the parties enter into a contract and the goods are destroyed through no fault of the parties before risk passes to the buyer or lessee,the parties are excused from performance.

The term "reasonable commercial standards of fair dealing" is often called ________.

A(n)________ warranty is any description of the good's physical nature or its use,either in general or specific circumstances,that becomes part of the contract.

In terms of sale of goods transactions in the United States,which of the following is true regarding disclaimer of the warranty of merchantability?

In terms of third-party beneficiaries of warranties,most states hold that a seller's warranties extend to anyone injured by the good.

Which of the following is true regarding the implied warranty of fitness for a particular purpose?

When the parties are merchants,the Uniform Commercial Code requires ________.

Under which sections of the Uniform Commercial Code are buyers and lessees obligated to accept and pay for conforming goods in accordance with the contract?

When was the Magnuson-Moss Act enacted?

Boat Tow.Donnie went to a new car dealership and told the salesperson (who was not the manager)that he needed a new car that would both get good gas mileage and pull his big boat.The salesperson encouraged him to buy a smaller car that the salesperson promised would pull the boat.Donnie bought the car and used it to pull the boat.Unfortunately,the heavy pull on the car did significant damage to the car's engine.Donnie complained to the salesperson,who denied any liability.Donnie,who had taken half-a-semester of business law,informed the salesperson that along with the sale of the car he also received an express warranty and an implied warranty of merchantability,and that he could recover under either of those theories.Will Donnie be able to recover damages based upon breach of the implied warranty of fitness for a particular purpose?

Which of the following is true regarding express warranties?

Courts rely on Uniform Contract Code rules to clarify the obligations of buyers and sellers when the contract they agreed to is unclear.