Exam 23: Performance and Obligations Under Sales and Leases

A buyer who has accepted goods may later revoke the acceptance if the buyer can show that the defects substantially impair the value of the goods.

Good faith in the performance and enforcement of every contract is required by UCC Section ________.

[Toshi's Dolls] Toshi owns a specialty doll store and purchases dolls regularly from Yolanda,a doll distributor.For the past few years,Toshi and Yolanda have signed yearly contracts that set forth the terms of the agreement.Although delivery terms are set forth in the agreement,if the delivery comes a day or two late or if Yolanda substitutes doll purses for shoes,Toshi does not complain,as she knows the next shipment will have more shoes than purses.Yolanda has added a new line of designer dolls,and Yolanda asks Toshi to sign a separate agreement with regard to the new doll line which includes a clause that accessories must conform to the order only as to quantity.Toshi's first order of the new line includes a large shipment of dolls and doll purses,but no doll shoes.The first delivery of the new doll line is scheduled to arrive on December 1,however,it arrives on December 2 and includes very few doll shoes and instead includes many doll purses.Yolanda refuses to accept the late shipment and calls Toshi to complain and also tells her that some of the dolls have ugly faces and she is worried they will not sell.Yolanda says that Toshi's been in the doll industry for years and should know that some dolls have flaws on their faces and she has to accept the dolls faces as they are. -Can Toshi reject the dolls with minor facial flaws?

Which statement is true regarding both the UCC and common law with regard to conforming and nonconforming goods?

Which of the following is true about the Uniform Computer Information Transactions Act (UCITA)?

Which of the following was the result in the "Case Opener" in which Vitol sued Koch Petroleum for delivering oil one day late causing Vitol to sustain a loss based on its sale to another entity?

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

Whether goods conform to contract terms is a ________.

means good faith in relation to transactions between parties who are not merchants.

Troy's failure to cure the problem will most likely have which effect?

Define "course of performance," and discuss its relationship to decisions regarding whether goods conform to contract specifications.

Which of the following is true under the UCC,regarding the right of a seller or lessor to presume acceptance?

Lui tells Kai the cupcakes can still be sold.Must Kai accept the cupcakes?

The right to fix errors in a contractual agreement,such as typographical errors,is known as the right to cure.

What is Yolanda's best defense as to why the doll shoes and purses do not conform perfectly to the order?

[Brea's Berries] Brea,a berry farmer,regularly supplies berries under an installment contract to Zelda's,a manufacturer of frozen desserts.Zelda's prefers its berries to be large,to provide the best quality for its products,and mandated that the contract contain a provision that each berry needed to be at least one inch in length.Zelda's rejected the latest shipment of berries,claiming that the majority of the berries did not meet the requisite length.Brea argues that Zelda cannot reject the entire shipment because it is only a trivial detail.Zelda responds that the size constitutes a substantial impairment in the goods and will make her products less desirable.She tells Brea she's cancelling the contract because she has to quickly find another supplier in order to complete a large order. -Can Zelda reject the shipment because of the size?

The UCC requires that buyers are obligated to accept and pay for ________ in accordance with the contract.

What type of notice must a party who wishes to replace nonconforming goods and cure within the time set for performance give the other party?

Which statement is correct regarding any right of inspection for buyers?

________ occurs when all the material elements of a contract are satisfied,even if some nonmaterial requirements may not be satisfied?