Exam 11: Sales and Lease Contracts

Beth's Bagels & Nosh, Inc., and other bakeries refer to a "baker's dozen" as consisting of a collection of thirteen baked goods. This is​

The UCC requires a contract modification to be supported by new consideration.

Marine Expeditions, Inc., pays Nate's Boats $4,000 to use an oceangoing vessel for a month. For the purposes of the UCC, this is​

Pam buys from Midtown Motors a used sport utility vehicle (SUV). The SUV was manufactured by GEM Vehicles, Inc., and previously owned by Ron. Regarding title to the SUV, Pam acquires​

Under the UCC, the risk of loss necessarily passes with title.

iSharp, Inc., and Jenene, the owner of a Kitchen Time shop, orally agree to a sale of knives and other utensils for $12,000. Jenene gives iSharp a check for $4,000 as a partial payment. This contract is​

Any explicit understanding between the buyer and the seller determines when title passes.

Lexi pays Mobile Edge Electronics $600 and receives a new phone. Under the UCC, this is​

Under the UCC, parties to sales and lease contracts are free to establish whatever terms they wish.

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

Brad leaves a laptop at Computer Sales & Repair (CSR) to have the battery replaced. CSR sells the laptopto Doris, who does not know that it belongs to Brad. Brad can recover from

When a merchant keeps the goods for the buyer to pick up, the risk of loss passes when the buyer actually takes physical possession of the goods.