Exam 14: The Formation of Sales and Lease Contracts

When an offer does not specify a means of acceptance,it can be accepted by any means reasonable under the circumstances.

Standard Office Corporation pays Tech Products $100 to use a Tech com?puter for a month.For purposes of the UCC,this is

Variety Goods,Inc. ,and Worldly Sales Corporation enter into a contract that does not specify the payment terms.Payment may be made in

A court can refuse to enforce a contract that the court deems to have been unconscionable at the time it was made.

Gail enters into a contract with Hi-Price Appliances,Inc.In a suit between the parties over payment under the contract,Gail claims that a certain clause is unconscionable.If the court agrees,it may

Two parties' course of dealing may be considered to resolve an ambiguity in a contract between them.

USA Farms offers to sell Valu Bakeries,Inc. ,fifty bushels of wheat.Valu's representative Wendy responds,"We agree to buy fifty bushels only if the wheat is Grade A quality." Wendy's statement is

Omega Systems,Inc. ,contracts with Petro Oil Corporation to make special pipe and install it in Petro's refinery.There is no separate price in the con?tract for the installation.Most likely,a court would consider this con?tract

In a contract in which goods and services are combined,the contract is al?ways considered an agreement for the sale of goods.

Bonsai Diner,which is moving to a new location,sells its used tables and chairs to Café Furnishings Corporation.For purposes of the UCC,this is

According to the UCC,one or more open terms will always cause a sales or lease contract to fail for indefiniteness.

Fresh Produce,Inc. ,and Great Grocery Stores dispute the interpretation of an ambiguous phrase in their contract.In a suit between the parties to con?strue the contract,a court may accept evidence of

Equipt Rental Corporation and Family Custodial Service,Inc. ,are parties to an oral agreement for a lease of goods with payments in excess of $10,000.They may satisfy the Statute of Frauds by

Under the UCC,a merchant who sells one type of good will be considered a merchant for any other type of good that he or she may sell.

If a contract for a sale of goods does not include the terms for payment,there is no basis for enforcing it.

Magna Motors,Inc. ,sells the right to the possession and use of a motor vehi?cle under a lease.As defined in the UCC,Magna is

Metro Daily and New City Newsstand enter into a contract under which Metro agrees to deliver a certain quantity of newspapers to New City each day.The contract does not include a price term.In a suit between the par?ties over the price,a court will

Under the UCC,a sale occurs when title passes from a seller to a buyer for a price.

Suzy pays Triple-A Office Supply Company $1,500 for a new laptop com?puter.According to the UCC,this is

Centrex Computer Company offers to sell Deluxe Vehicle Sales Corporation 1,000 computers for a $500,000,states that the offer will be open for six days,and asks for a response by fax.On the fourth day,Deluxe sends an acceptance to Centrex via the mail,which is received on the sixth day.In this deal