Question 1

Under the CISG,if the buyer fails to perform any obligations,the seller may:

Accepted Answer

A)  set an additional period of time of reasonable length for performance. 
B)  require the buyer to pay the price. 
C)  receive damages. 
D)  All of these. 
A)  set an additional period of time of reasonable length for performance. 
B)  require the buyer to pay the price. 
C)  receive damages. 
D)  All of these.

Question 2

Stella has contracted to buy one hundred crystal flower vases from Viola.The vase have been identified to the contract and a down payment of $1,000 of the $10,000 purchase price has been paid.If the Viola becomes insolvent,the Stella may still pay $9,000 and get the goods.

Accepted Answer

A) True 
 B)False

Question 3

Under the CISG,if the contract is avoided and the seller has resold the goods in a reasonable manner,he may recover the difference between the contract and resale prices.

Accepted Answer

A) True 
 B)False

Question 4

If a seller withholds delivery of goods to the buyer because of the buyer's failure to make timely payment,the seller may resell the goods and is accountable to the original buyer for any profit made on the resale.

Accepted Answer

A) True 
 B)False

Question 5

The contract between the buyer and the seller may expressly limit or exclude consequential damages so long as the contract is not unconscionable.

Accepted Answer

A) True 
 B)False

Question 6

Perry is building his house and orders a hot water heater from Jones Co.to be installed by them.The hot water heater they sent has a 45-gallon capacity when Perry ordered a 60-gallon capacity.Jones cannot provide a 60-gallon heater for two months,so Perry cancels the contract and gets a heater from Stosill's.Jones Co.says it must be allowed to install the heater purchased from Stosill's.What result?

Accepted Answer

A)  Jones wins;Perry can only cancel the contract as regards the goods. 
B)  Jones wins;Perry can only cancel if installation is also delayed two months. 
C)  Perry wins since the contract breach goes to the whole contract. 
D)  Perry can cancel the whole contract,but he is then limited in his recovery of damages. 
A)  Jones wins;Perry can only cancel the contract as regards the goods. 
B)  Jones wins;Perry can only cancel if installation is also delayed two months. 
C)  Perry wins since the contract breach goes to the whole contract. 
D)  Perry can cancel the whole contract,but he is then limited in his recovery of damages.

Question 7

Under the CISG,what are the damages for breach of contract by one party? Does the aggrieved party have any responsibility after the breach occurs?

Accepted Answer

Damages for breach of contract by one pa

Question 8

Contract remedies provided as exclusive will not preclude Code remedies if circumstances cause the remedy to fail in its essential purpose.

Accepted Answer

A) True 
 B)False

Question 9

If Andrews Computing has repudiated its contract to sell 500 computers to a retailer,the retailer:

Accepted Answer

A)  must await the seller's performance. 
B)  can recover punitive damages. 
C)  can seek specific performance. 
D)  can "cover" by procuring goods elsewhere and then sue Andrews for incidental and consequential damages. 
A)  must await the seller's performance. 
B)  can recover punitive damages. 
C)  can seek specific performance. 
D)  can "cover" by procuring goods elsewhere and then sue Andrews for incidental and consequential damages.

Question 10

Brooklyn breaches a contract for the sale of goods and Sara resells the goods,although Sara acts in bad faith and not in a commercially reasonable manner.Because of Sara's actions,she:

Accepted Answer

A)  can recover from the buyer the difference between the resale price and the contract price,plus incidental damages. 
B)  may only recover damages for nonacceptance or repudiation. 
C)  may choose between the remedy for resale and the remedy of recovery of damages for nonacceptance or repudiation. 
D)  is denied any remedies. 
A)  can recover from the buyer the difference between the resale price and the contract price,plus incidental damages. 
B)  may only recover damages for nonacceptance or repudiation. 
C)  may choose between the remedy for resale and the remedy of recovery of damages for nonacceptance or repudiation. 
D)  is denied any remedies.

Question 11

The Code's remedies are cumulative;therefore,a seller may both withhold delivery of the goods and identify goods to the contract.

Accepted Answer

A) True 
 B)False

Question 12

In what ways may a seller default,and what remedies are available to the buyer in such a case?

Accepted Answer

Basically,a seller may default in three

Question 13

A buyer's right to purchase,in good faith and without unreasonable delay,substituted goods from Seller Bianca when Seller Amber breaches a sales contract is:

Accepted Answer

A)  cover. 
B)  specific performance. 
C)  replevin. 
D)  reclamation. 
A)  cover. 
B)  specific performance. 
C)  replevin. 
D)  reclamation.

Question 14

Compare the remedies of withholding delivery of the goods and stopping delivery of the goods.How are they alike? How are they different?

Accepted Answer

The right to withhold delivery of the go

Question 15

If the buyer is insolvent and has not paid for goods received,the seller may reclaim the goods.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following would not be a remedy available to the seller on account of buyer's breach?

Accepted Answer

A)  Stop delivery of the goods by the carrier 
B)  Require the financially sound buyer to return the goods 
C)  Recover the price 
D)  Cancel the contract 
A)  Stop delivery of the goods by the carrier 
B)  Require the financially sound buyer to return the goods 
C)  Recover the price 
D)  Cancel the contract

Question 17

How are remedies of the seller for breach of contract by the buyer categorized by their orientation? What remedies are within each of the categories?

Accepted Answer

Sellers' remedies can be categorized as

Question 18

Which of the following is correct with respect to consequential damages under the Code?

Accepted Answer

A)  Consequential damages include damages for destruction of a warehouse caused by the explosion of nonconforming goods. 
B)  Consequential damages include damages for lost profits from a contract to resell goods which the seller never delivers. 
C)  Particular needs of the buyer need to be made known to the seller before the seller can be held responsible for consequential damages relating to those needs. 
D)  All of these are correct. 
A)  Consequential damages include damages for destruction of a warehouse caused by the explosion of nonconforming goods. 
B)  Consequential damages include damages for lost profits from a contract to resell goods which the seller never delivers. 
C)  Particular needs of the buyer need to be made known to the seller before the seller can be held responsible for consequential damages relating to those needs. 
D)  All of these are correct.

Question 19

As the result of a seller's breach,a buyer may ask for incidental damages.Incidental damages include costs incurred in:

Accepted Answer

A)  storing goods in a warehouse. 
B)  making calls to obtain replacement goods. 
C)  inspecting the goods. 
D)  All of these. 
A)  storing goods in a warehouse. 
B)  making calls to obtain replacement goods. 
C)  inspecting the goods. 
D)  All of these.

Question 20

The fair market value of a 10-foot fishing boat is $1,000.In a special promotion,J's Marina purchases a 10-foot fishing boat for $900.The boat is badly scratched when it arrives.J's Marina,however,accepts the shipment and notifies the seller of the defect.The boat as delivered has a value of $800.If the damaged boat is a breach of warranty by the seller,the buyer may recover from the seller:

Accepted Answer

A)  $100. 
B)  $100 plus incidental and consequential damages. 
C)  $200. 
D)  $200 plus incidental and consequential damages. 
A)  $100. 
B)  $100 plus incidental and consequential damages. 
C)  $200. 
D)  $200 plus incidental and consequential damages.

Exam 25: Sales Remedies

Under the CISG,if the buyer fails to perform any obligations,the seller may:

Stella has contracted to buy one hundred crystal flower vases from Viola.The vase have been identified to the contract and a down payment of $1,000 of the $10,000 purchase price has been paid.If the Viola becomes insolvent,the Stella may still pay $9,000 and get the goods.

Under the CISG,if the contract is avoided and the seller has resold the goods in a reasonable manner,he may recover the difference between the contract and resale prices.

If a seller withholds delivery of goods to the buyer because of the buyer's failure to make timely payment,the seller may resell the goods and is accountable to the original buyer for any profit made on the resale.

The contract between the buyer and the seller may expressly limit or exclude consequential damages so long as the contract is not unconscionable.

Under the CISG,what are the damages for breach of contract by one party? Does the aggrieved party have any responsibility after the breach occurs?

Contract remedies provided as exclusive will not preclude Code remedies if circumstances cause the remedy to fail in its essential purpose.

If Andrews Computing has repudiated its contract to sell 500 computers to a retailer,the retailer:

Brooklyn breaches a contract for the sale of goods and Sara resells the goods,although Sara acts in bad faith and not in a commercially reasonable manner.Because of Sara's actions,she:

The Code's remedies are cumulative;therefore,a seller may both withhold delivery of the goods and identify goods to the contract.

In what ways may a seller default,and what remedies are available to the buyer in such a case?

A buyer's right to purchase,in good faith and without unreasonable delay,substituted goods from Seller Bianca when Seller Amber breaches a sales contract is:

Compare the remedies of withholding delivery of the goods and stopping delivery of the goods.How are they alike? How are they different?

If the buyer is insolvent and has not paid for goods received,the seller may reclaim the goods.

Which of the following would not be a remedy available to the seller on account of buyer's breach?

How are remedies of the seller for breach of contract by the buyer categorized by their orientation? What remedies are within each of the categories?

Which of the following is correct with respect to consequential damages under the Code?

As the result of a seller's breach,a buyer may ask for incidental damages.Incidental damages include costs incurred in:

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