Question 1

The UCC imposes a duty of good faith in the performance of all contracts.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is true regarding an open price term?

Accepted Answer

A) It makes the contract unenforceable. 
B) The price may be fixed by the seller. 
C) The price is the "reasonable" price at the time of delivery. 
D) The price is set by the buyer. 
A) It makes the contract unenforceable. 
B) The price may be fixed by the seller. 
C) The price is the "reasonable" price at the time of delivery. 
D) The price is set by the buyer.

Question 3

Patsy is shopping for a used car.She finds a car she likes at Morley Motors.Discuss the standard of conduct the UCC imposes on the parties in performing the sales transaction.

Accepted Answer

The UCC imposes a duty of good faith in

Question 4

The difference between the UCC requirement of good faith and doctrine of unconscionability is that:

Accepted Answer

A) good faith prohibits shockingly one-sided terms in a contract. 
B) good faith focuses on the parties' behavior as they perform the contract. 
C) unconscionability looks at the parties' attempt to carry out the terms of the contract in a reasonable manner. 
D) unconscionability focuses on whether a party is honest in fact and exercises reasonable commercial standards of fair dealing. 
A) good faith prohibits shockingly one-sided terms in a contract. 
B) good faith focuses on the parties' behavior as they perform the contract. 
C) unconscionability looks at the parties' attempt to carry out the terms of the contract in a reasonable manner. 
D) unconscionability focuses on whether a party is honest in fact and exercises reasonable commercial standards of fair dealing.

Question 5

Which of the following contracts requires a writing under the UCC,Article 2?

Accepted Answer

A) Jeremy,a full-time student,sold his snow blower to a friend for $450. 
B) Jeremy,a full-time student,purchased a used computer from Office Plus for $300. 
C) A toy manufacturer contracted to sell dolls valued at $10,000 to a department store. 
D) Tobias Department Store contracted to sell Jenny a $400 doll. 
A) Jeremy,a full-time student,sold his snow blower to a friend for $450. 
B) Jeremy,a full-time student,purchased a used computer from Office Plus for $300. 
C) A toy manufacturer contracted to sell dolls valued at $10,000 to a department store. 
D) Tobias Department Store contracted to sell Jenny a $400 doll.

Question 6

During the development of commercial law centuries ago,businessmen throughout England and Europe:

Accepted Answer

A) settled disputes in trade organizations rather than in civil courts. 
B) relied on a body of rules which became known as the lex mercatoria. 
C) began to treat their own customs as law. 
D) All of the above. 
A) settled disputes in trade organizations rather than in civil courts. 
B) relied on a body of rules which became known as the lex mercatoria. 
C) began to treat their own customs as law. 
D) All of the above.

The UCC imposes a duty of good faith in the performance of all contracts.

Which of the following is true regarding an open price term?

Patsy is shopping for a used car.She finds a car she likes at Morley Motors.Discuss the standard of conduct the UCC imposes on the parties in performing the sales transaction.

The difference between the UCC requirement of good faith and doctrine of unconscionability is that:

Which of the following contracts requires a writing under the UCC,Article 2?

During the development of commercial law centuries ago,businessmen throughout England and Europe:

Introduction to Law

Business Ethics and Social Responsibility

Dispute Resolution

Common Law, Statutory Law, and Administrative Law

Constitutional Law

Torts and Product Liability

Crime

International Law

Introduction to Contracts

Agreement

Consideration

Legality

Capacity and Consent

Written Contracts

Third parties

Performance and Discharge

Remedies

practical Contracts

Ownership and Warranties

Performance and Remedies

Negotiable Instruments

Secured Transactions

Bankruptcy

Agency

Employment and Labor Law

Employment and Discrimination

Starting a Business

Corporations

Government Regulations:Securities and Antitrust

Consumer Protection

Cyberlaw

Intellectual Property

Real and Personal Property

Filters

Exam 19: Introduction to Sales

The UCC imposes a duty of good faith in the performance of all contracts.

Which of the following is true regarding an open price term?

Patsy is shopping for a used car.She finds a car she likes at Morley Motors.Discuss the standard of conduct the UCC imposes on the parties in performing the sales transaction.

The difference between the UCC requirement of good faith and doctrine of unconscionability is that:

Which of the following contracts requires a writing under the UCC,Article 2?

During the development of commercial law centuries ago,businessmen throughout England and Europe:

Introduction to Law

Business Ethics and Social Responsibility

Dispute Resolution

Common Law, Statutory Law, and Administrative Law

Constitutional Law

Torts and Product Liability

Crime

International Law

Introduction to Contracts

Agreement

Consideration

Legality

Capacity and Consent

Written Contracts

Third parties

Performance and Discharge

Remedies

practical Contracts

Ownership and Warranties

Performance and Remedies

Negotiable Instruments

Secured Transactions

Bankruptcy

Agency

Employment and Labor Law

Employment and Discrimination

Starting a Business

Corporations

Government Regulations:Securities and Antitrust

Consumer Protection

Cyberlaw

Intellectual Property

Real and Personal Property

Filters