Exam 12: UCC Sales Contracts, Leases, and Warranties

The UCC rule that says that a merchant who offers to buy,sell,or lease goods and gives a written and signed assurance on a separate form that the offer will be held open cannot revoke the offer for the time stated or,if no time is stated,for a reasonable time is referred to as the ________.

Which of the following articles in the UCC deals with the sale of goods?

Pollard enters into a sales contract to purchase a specific Picasso painting from Jenson for $15 million.When Pollard tenders payment,Jenson refuses to sell the painting.Which of the following remedy can Pollard exercise to retrieve the painting from Jenson?

Contracts for the provision of services are not covered by Article 2 of the UCC.

A(n)________ refers to a warranty that arises where a seller or lessor warrants that the goods will meet the buyer's or lessee's expressed needs.

A transfer of the right to the possession and use of named goods for a set term in return for certain consideration is known as ________.

The implied warranty of merchantability requires that the quality of the goods must pass without objection in the trade.

An e-contract is made when the offeree sends an e-mail or another electronic document to the offeror.

Which of the following is true of an "as is" disclaimer?

A statement that negates express and implied warranties is known as a ________.

According to the mirror image rule,which of the following is true of additional terms being added in an acceptance?

Under the UCC,if the time,place,and manner of delivery of goods are not mentioned in a contract,________.

The implied warranty of fitness for a particular purpose applies only to merchants.

Article 2 of the Uniform Commercial Code is also applied by federal courts to sales contracts governed by federal law.

An e-record is a record created,generated,sent,communicated,received,or stored by electronic means.

In which of the following cases does a seller have the right to stop delivery of goods in transit,regardless of the size of the shipment?

The signature of a person's electronic agent can constitute a valid electronic signature.

Steve brings his watch to Knell Watches,a store that sells and repairs watches,to be repaired.The watch store repairs the watch and then sells it to Kevin,who buys the watch with a fraudulent check that bounces.Kevin then resells the watch to his friend Jonathan,who is unaware of the stolen status of the watch.Who can legally claim ownership over the watch in court?

A contract is created when ________.

An electronic agent allows for the contracting for the sale and lease of goods over the Internet,using websites to order or lease goods.