Exam 21: Introduction to Sales and Lease Contracts

Which of the following was offered as a treaty that countries could sign, indicating their willingness to allow this treaty to govern international business-to-business sales contracts?

To resolve contract issues in cases in which a tangible good is mixed with something intangible, most states employ some variation of the ______.

The UCC recognizes the concept of unconscionability.

Under Article 2(a) of the UCC which of the following is defined as a transfer of the right to possession and use of goods for a term in return for consideration?

Under Article 2 of the UCC which of the following is defined as tangible things which are movable at the time of identification to the contract for sale?

Which of the following was the result in the case in the text, Novamedix Limited v. NDM Acquisition Corporation and Vesta Healthcare Inc., in which the plaintiff claimed that a settlement agreement was a contract for the sale of goods breached by the defendant because a type of medical slipper involved in the settlement agreement could not be resold?

If a firm offer is silent as to time, the UCC assumes ______.

What did the court in Reilly Foam Corp. v. Rubbermaid Corp. rule in regard to whether a quote is considered an offer under the UCC?

Which of the following is true regarding Chinese law?

Land and service contracts are governed by common law, not the UCC.

"Dress Shop Problems." Susie, who has a ladies' dress shop, reached an oral agreement with Kim, a wholesaler, to purchase 100 dresses for $80 each, with the dresses to be delivered within 30 days. Kim later orally agreed to a modification whereby she would add ten belts to go along with certain dresses at no extra charge. Kim did so because she wanted to maintain Susie's good will. Susie sent Kim a memo confirming their oral agreement, including the modification, but heard nothing. When the dresses did not arrive within 30 days, Susie checked with Kim. Kim told her that their agreement was no good because Kim never signed anything and that the UCC does not apply in the retail arena. -Which of the following is true regarding Kim's statement that the UCC does not apply in the retail arena?

Which of the following is true regarding the creation of the Uniform Commercial Code?

Which of the following is true regarding state rights in relation to the UCC?

Under Article 2(A) of the UCC, a[n] ______ is a person who acquires the right to possession and use of goods under a lease.

The UCC pertains to all business transactions.

How many states have failed to adopt any portions of the UCC?

What actions does the UCC provide that a court can take if it discovers that a contract or lease provision or the contract or lease as a whole is unconscionable?

A contract that combines a good with a service is a ______ sale.

Set for the circumstances under which the parol evidence rule would not apply and parties would be allowed to explain or supplement a written contract.

Under Article 2 of the UCC which of the following consists of the passing of title from the seller to the buyer for a price?