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Beillitte 03-24-2012 10:06 AM

Business Law Chapters 11-14
 
1. Under the UCC, the validity of a contract depends on its price term. (Points : 2)
True
False


2. A contract between parties residing in different countries is subject to Article 2A of the UCC. (Points : 2)
True
False


3. A contract between parties residing in different countries is subject to United Nations Convention on Contracts for the International Sale of Goods. (Points : 2)
True
False


4. When a buyer breaches a contract, the risk of loss immediately shifts to the buyer. (Points : 2)
True
False


5. If a seller is a merchant, and the seller holds the goods, the risk of loss cannot pass to a buyer. (Points : 2)
True
False


6. A receipt issued by a warehouser for goods stored in a warehouse is a bill of lading. (Points : 2)
True
False


7. A consumer lease is exempted from coverage under the UCC. (Points : 2)
True
False


8. Ordinary contract rights are an example of property that does not come under UCC Article 2. (Points : 2)
True
False


9. EZ Equipment Corporation leases six forklifts to Fresco Refining Company, but as the forklifts are delivered, they are lost in an explosion. Under the UCC, the parties' rights and obligations with respect to the loss depend on the concept of (Points : 2)
physical possession.
product liability.
risk of loss.
title.


10. Office Equipment Leasing, Inc. (OEL), agrees to lease five computer workstations to Product Promotion Corporation (PPC). Before any interest in the workstations can pass from OEL to PPC, they must be (Points : 2)
in existence and identified as the goods in the contract.
in existence only.
identified as the specific goods designated in the contract only.
none of the choices.


11. With a bill of lading, Cartage Common Carrier Company acknowledges possession of certain goods and contracts to deliver them. Cartage is (Points : 2)
a bailee.
a buyer in the ordinary course of business.
a good faith purchaser for value.
an F.O.B.


12. Doctors Medical Clinic orders 1,000 bandages from Emergency Supplies Company but fails to specify the sizes. The bandages are delivered in an assortment of sizes. Doctors Medical Clinic may (Points : 2)
accept the bandages "as is" only.
accept the bandages "as is" or reject the entire shipment only.
accept only the bandages that it wants and reject the rest.
reject the entire shipment only.


13. Rikki and Sid enter into a sales contract. With respect to the specific contractual provisions set out in the UCC, Rikki and Sid may (Points : 2)
agree to different terms only to a reasonable extent.
agree to different terms unless they "get caught."
agree to whatever terms they wish.
not agree to different terms.


14. Uri sells 100 cases of vitamins to Wanda, but before she takes physical possession, the cases are lost. Under the UCC, the parties' rights and obligations with respect to the loss depend on the concept of (Points : 2)
physical possession.
product liability.
risk of loss.
title.


15. Home Products Store buys furniture from Relax Furniture, Inc. The parties agree that the furniture will be shipped "F.O.B. Relax's warehouse" to Home Products via Swifty Shipping Corporation. The furniture is lost in transit. The loss is suffered by (Points : 2)
Home Products and Relax Furniture, but not Swifty Shipping.
Home Products, Relax Furniture, and Swifty Shipping.
Home Products only.
Relax Furniture only.


16. Quinn enters into a series of agreements with Reba involving a sale of a Suite Dreams Motel, including the land, building, furnishings, shares of stock in Suite Dreams Company, and a contract with Trudy to create an ad campaign. Reba suspects that Quinn may be misrepresenting the facts. The UCC Statute of Frauds governs (Points : 2)
the sale of any of the property evidenced by a writing.
the entire deal, including the marketer's services.
the sale of the furnishings priced at $500 or more.
the sale of the land and the building.


17. A public policy underlying the imposition of strict product liability is that consumers should be protected against unsafe products. (Points : 2)
True
False


18. A person who receives unsolicited merchandise and keeps it without notifying the sender commits mail fraud. (Points : 2)
True
False


19. Promises of fact made during the bargaining process are not express warranties. (Points : 2)
True
False

movappitiella 03-24-2012 10:06 AM

Business Law Chapters 11-14
 
Do your own homework.


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