FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 17: Introduction to Sales and Lease Contracts

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 31

Multiple Choice

Review LaterAdd Note

Review Later

Bean Processors Inc. agrees to ship a certain quantity of coffee beans to Coffee Café LLC. Bean sends to Coffee an e-mail indicating that the parties intended to form a contract.  Against Bean, as a contract, this writing will be sufficient

A) if it is signed by Bean.
B) if it is signed by Coffee.
C) if Coffee responds with an acknowledgement of the deal.
D) under no circumstances.

E) A) and B)
F) C) and D)

Correct Answer

verified

Show Answer

Question 32

Multiple Choice

Review LaterAdd Note

Review Later

Excluded from Article 2 of the UCC is

A) minerals that the seller will sever from the land .
B) corporate stocks and bonds.
C) crops that are growing on the land.
D) a car that comes with a service warranty.

E) B) and C)
F) B) and D)

Correct Answer

verified

Show Answer

Question 33

Multiple Choice

Review LaterAdd Note

Lee pays Mobile Electronics $600 for a new phone. Under the UCC, this is

Ron enters into written agreements with Sophie involving a sale of Timberline Motel, including the land, the building, and the furnishings. The UCC Statute of Frauds governs the sale of

Jo owns a condominium that she leases to Katrina. Jo gives her daughter Lucia $450 on her sixteenth birthday. Jo sells her car to her neighbor Maria for $1,500. UCC Article 2 covers

Minerals fall within the scope of Article 2 if they are to be severed from the land by the seller.

Brad buys a bulldozer from Construction Equipment Corporation, which he leases to Deep Digs, Inc. In this situation, the lessee is

Ed sells his car to Fran for $5,000, his bike to Gwen for $600, his game player to Holly for $200, and three shares of stock to Inez for $100. Article 2 of the UCC does not apply to the sale of

In interpreting a commercial agreement, a court will assume that the usage of trade was taken into account when the agreement was phrased.

Talk, Inc., offers to buy from Ultra Corporation 1,000 phones with certain features. Without notifying Talk, Ultra timely ships phones with fewer features. With respect to the offer, this shipment is an acceptance and

Under the UCC, in the case of a dispute, any missing terms cannot be proved by external evidence.

Clean Machines Company makes washing machines. Over the phone, Clean offers to sell Dealers Appliance Outlet one hundred model EZ2000 washers at a price of $150 per unit. Clean says that it will keep the offer open for ninety days. In that same call, Dealers responds that within two or three weeks it will decide whether to accept. One week later, Clean faxes, and Dealer receives, notice that the offer is withdrawn. Dealer immediately phones Clean to accept the $150-per-unit offer. When Clean refuses to deliver at that price, Dealer files a suit. Clean asserts, first, that there is no contract and, second, that if there is a contract, it is unenforceable. Discuss Clean's assertions.

Dian, an agent for Expo Motors, Inc., writes a letter to Flynn on November 1 stating that she will sell him a 2017 Subaru Outback for $25,000 between November 1 and December 31. Dian's letter to Flynn is

The UCC permits acceptance of an offer to buy goods by a promise to ship conforming goods to the buyer.

Auto Body & Paint Company orders custom paint from Best Hues Inc., but Best does not deliver. Auto Body will probably be unable to enforce the agreement if the parties omitted

Ferris is refinishing his kitchen floor and needs a floor sander to complete the job. Ferris's neighbor Gina suggests that he call Home Repair Rentals, Inc. Home Repair leases Ferris a floor sander. In this transaction, the lessor is

A firm offer in writing by a merchant is revocable at any time before acceptance.

Containers, Inc., sends its standard order form to Distribution Corporation to evidence a sale of packing materials. Distribution responds with its own standard purchase order form . Additional terms in the purchase order automatically become part of the contract unless

The UCC requires parties to form sales and lease contracts with the same degree of formality used in forming other types of contracts.

Under the UCC, the meaning of any agreement must be interpreted in light of commercial practices.