Question 1

Statements of fact made during the bargaining process are express warranties.​

Accepted Answer

A) True 
 B)False  True

Question 2

Game Source Stores are open to consumers. The UCC requirement of good faith imposes​

Accepted Answer

A)  ​a higher duty on consumers than Game Source. 
B)  ​a higher duty on Game Source than on consumers. 
C)  ​no duty on either Game Source or consumers. 
D)  ​the same duty on Game Source and consumers. 
A)  ​a higher duty on consumers than Game Source. 
B)  ​a higher duty on Game Source than on consumers. 
C)  ​no duty on either Game Source or consumers. 
D)  ​the same duty on Game Source and consumers. B

Question 3

Medical Supply Company and Health Care, Inc., enter into a contract for a sale of medical equipment and supplies. Under either a shipment contract or a destination contract, the seller must​

Accepted Answer

A)  ​allow the buyer to reject the goods for any reason. 
B)  ​deliver the goods to a particular destination. 
C)  ​place the goods into the hands of a carrier. 
D)  ​give the buyer any necessary documents of title. 
A)  ​allow the buyer to reject the goods for any reason. 
B)  ​deliver the goods to a particular destination. 
C)  ​place the goods into the hands of a carrier. 
D)  ​give the buyer any necessary documents of title. D

Question 4

Puffery is an expert's opinion that creates an express warranty.​

Accepted Answer

A) True 
 B)False

Question 5

The principle of good faith applies to both parties to a sales contract.​

Accepted Answer

A) True 
 B)False

Question 6

A shipment contract requires a seller to ship goods by a carrier.​

Accepted Answer

A) True 
 B)False

Question 7

Eliza buys a new motorcycle from Fab Cycles, Inc. The most important factor in determining whether an express warranty is created is whether​

Accepted Answer

A)  ​Eliza expresses to Fab Cycles what she wants warranted. 
B)  ​Eliza's desire for the cycle becomes part of her motivation to deal. 
C)  ​Fab Cycles expresses to Eliza what it expects of its customers. 
D)  ​Fab Cycles's promise becomes part of the basis of the bargain. 
A)  ​Eliza expresses to Fab Cycles what she wants warranted. 
B)  ​Eliza's desire for the cycle becomes part of her motivation to deal. 
C)  ​Fab Cycles expresses to Eliza what it expects of its customers. 
D)  ​Fab Cycles's promise becomes part of the basis of the bargain.

Question 8

Elegant Carpets, Inc., and Fantastic Floors Stores enter into a contract for a sale of carpeting to be delivered under a shipment contract. This contract requires Elegant Carpets, the seller, to​

Accepted Answer

A)  ​allow the buyer to reject the goods for any reason. 
B)  ​deliver the goods to a particular destination. 
C)  ​inspect the goods before shipping them. 
D)  ​place the goods into the hands of a carrier. 
A)  ​allow the buyer to reject the goods for any reason. 
B)  ​deliver the goods to a particular destination. 
C)  ​inspect the goods before shipping them. 
D)  ​place the goods into the hands of a carrier.

Question 9

Statements of opinion and value usually create express warranties.​

Accepted Answer

A) True 
 B)False

Question 10

A seller is not required to give a written warranty for consumer goods sold.​

Accepted Answer

A) True 
 B)False

Question 11

Soft Chair Company contracts to deliver 100 chairs to Stuffy Furnishings Store on May 1 for which Stuffy agrees to pay. Soft tells Stuffy on April 15 that delivery will be delayed until June 1. Stuffy may​

Accepted Answer

A)  await performance, sue Soft, or suspend its own performance.​ 
B)  ​only await Soft's performance for a commercially reasonable time. 
C)  ​only sue Soft for breach of contract. 
D)  ​only suspend its own performance. 
A)  await performance, sue Soft, or suspend its own performance.​ 
B)  ​only await Soft's performance for a commercially reasonable time. 
C)  ​only sue Soft for breach of contract. 
D)  ​only suspend its own performance.

Question 12

Vehicle Wholesale Company and Walt's Retail Motors enter into a contract for a sale of used cars. Vehicle Wholesale assures Walt's that it has valid title to the vehicles. Under the UCC, warranties of title arise​

Accepted Answer

A)  ​automatically in most sales contracts. 
B)  ​only if the buyer asks for such a warranty. 
C)  ​only if the seller expresses such a warranty. 
D)  ​only in conjunction with lease contracts, not sales contracts. 
A)  ​automatically in most sales contracts. 
B)  ​only if the buyer asks for such a warranty. 
C)  ​only if the seller expresses such a warranty. 
D)  ​only in conjunction with lease contracts, not sales contracts.

Question 13

Every sale or lease by a merchant who deals in goods of the kind sold or leased automatically gives rise to an implied warranty of merchantability.​

Accepted Answer

A) True 
 B)False

Question 14

If goods in every respect conform to a contract, the buyer or lessee does not have a right to reject the goods.​

Accepted Answer

A) True 
 B)False

Question 15

Water Pipe Company includes in its contracts a provision that reads, in large red letters, "There are no warranties that extend beyond the description on the face hereof." This disclaimer negates​

Accepted Answer

A)  ​the implied warranty of fitness for a particular purpose. 
B)  ​the implied warranty of merchantability. 
C)  ​the implied warranty of title. 
D)  ​none of the choices. 
A)  ​the implied warranty of fitness for a particular purpose. 
B)  ​the implied warranty of merchantability. 
C)  ​the implied warranty of title. 
D)  ​none of the choices.

Question 16

In contracts involving a carrier, a seller can complete performance through a shipment contract or a destination contract.​

Accepted Answer

A) True 
 B)False

Question 17

Under the perfect tender rule, if tender is not perfect, the seller is obligated to try again.​

Accepted Answer

A) True 
 B)False

Question 18

Greg, a salesperson for Home Improvement Center, tells Irena, "This is the best floor sander I've ever seen." This statement is​

Accepted Answer

A)  ​an express warranty. 
B)  ​an implied warranty. 
C)  ​a warranty of title. 
D)  ​puffery. 
A)  ​an express warranty. 
B)  ​an implied warranty. 
C)  ​a warranty of title. 
D)  ​puffery.

Question 19

If warranties are inconsistent, implied warranties displace express warranties.​

Accepted Answer

A) True 
 B)False

Question 20

An action for breach of warranty accrues when the seller or lessor tenders delivery.​

Accepted Answer

A) True 
 B)False

Statements of fact made during the bargaining process are express warranties.

Game Source Stores are open to consumers. The UCC requirement of good faith imposes

Medical Supply Company and Health Care, Inc., enter into a contract for a sale of medical equipment and supplies. Under either a shipment contract or a destination contract, the seller must

Puffery is an expert's opinion that creates an express warranty.

The principle of good faith applies to both parties to a sales contract.

A shipment contract requires a seller to ship goods by a carrier.

Eliza buys a new motorcycle from Fab Cycles, Inc. The most important factor in determining whether an express warranty is created is whether

Elegant Carpets, Inc., and Fantastic Floors Stores enter into a contract for a sale of carpeting to be delivered under a shipment contract. This contract requires Elegant Carpets, the seller, to

Statements of opinion and value usually create express warranties.

A seller is not required to give a written warranty for consumer goods sold.

Soft Chair Company contracts to deliver 100 chairs to Stuffy Furnishings Store on May 1 for which Stuffy agrees to pay. Soft tells Stuffy on April 15 that delivery will be delayed until June 1. Stuffy may

Vehicle Wholesale Company and Walt's Retail Motors enter into a contract for a sale of used cars. Vehicle Wholesale assures Walt's that it has valid title to the vehicles. Under the UCC, warranties of title arise

Every sale or lease by a merchant who deals in goods of the kind sold or leased automatically gives rise to an implied warranty of merchantability.

If goods in every respect conform to a contract, the buyer or lessee does not have a right to reject the goods.

Water Pipe Company includes in its contracts a provision that reads, in large red letters, "There are no warranties that extend beyond the description on the face hereof." This disclaimer negates

In contracts involving a carrier, a seller can complete performance through a shipment contract or a destination contract.

Under the perfect tender rule, if tender is not perfect, the seller is obligated to try again.

Greg, a salesperson for Home Improvement Center, tells Irena, "This is the best floor sander I've ever seen." This statement is

If warranties are inconsistent, implied warranties displace express warranties.

An action for breach of warranty accrues when the seller or lessor tenders delivery.

Law and Legal Reasoning

Business and the Constitution

Courts and Alternative Dispute Resolution

Tort Law

Criminal Law and Cyber Crime

Business Ethics

Nature and Terminology

Agreement in Traditional and E-Contracts

Consideration, Capacity, and Legality

Defenses to Contract Enforceability

Third Party Rights and Discharge

Breach of Contract and Remedies

Intellectual Property Rights

Internet Law, Social Media, and Privacy

The Formation of Sales and Lease Contracts

Agency Relationships in Business

Small Businesses and Limited Liability Companies

Corporations

Filters

Exam 16: Performance, Breach, and Warranties of Sales and Lease Contracts

Statements of fact made during the bargaining process are express warranties.​

Game Source Stores are open to consumers. The UCC requirement of good faith imposes​

Medical Supply Company and Health Care, Inc., enter into a contract for a sale of medical equipment and supplies. Under either a shipment contract or a destination contract, the seller must​

Puffery is an expert's opinion that creates an express warranty.​

The principle of good faith applies to both parties to a sales contract.​

A shipment contract requires a seller to ship goods by a carrier.​

Eliza buys a new motorcycle from Fab Cycles, Inc. The most important factor in determining whether an express warranty is created is whether​

Elegant Carpets, Inc., and Fantastic Floors Stores enter into a contract for a sale of carpeting to be delivered under a shipment contract. This contract requires Elegant Carpets, the seller, to​

Statements of opinion and value usually create express warranties.​

A seller is not required to give a written warranty for consumer goods sold.​

Soft Chair Company contracts to deliver 100 chairs to Stuffy Furnishings Store on May 1 for which Stuffy agrees to pay. Soft tells Stuffy on April 15 that delivery will be delayed until June 1. Stuffy may​

Vehicle Wholesale Company and Walt's Retail Motors enter into a contract for a sale of used cars. Vehicle Wholesale assures Walt's that it has valid title to the vehicles. Under the UCC, warranties of title arise​

Every sale or lease by a merchant who deals in goods of the kind sold or leased automatically gives rise to an implied warranty of merchantability.​

If goods in every respect conform to a contract, the buyer or lessee does not have a right to reject the goods.​

Water Pipe Company includes in its contracts a provision that reads, in large red letters, "There are no warranties that extend beyond the description on the face hereof." This disclaimer negates​

In contracts involving a carrier, a seller can complete performance through a shipment contract or a destination contract.​

Under the perfect tender rule, if tender is not perfect, the seller is obligated to try again.​

Greg, a salesperson for Home Improvement Center, tells Irena, "This is the best floor sander I've ever seen." This statement is​

If warranties are inconsistent, implied warranties displace express warranties.​

An action for breach of warranty accrues when the seller or lessor tenders delivery.​

Law and Legal Reasoning

Business and the Constitution

Courts and Alternative Dispute Resolution

Tort Law

Criminal Law and Cyber Crime

Business Ethics

Nature and Terminology

Agreement in Traditional and E-Contracts

Consideration, Capacity, and Legality

Defenses to Contract Enforceability

Third Party Rights and Discharge

Breach of Contract and Remedies

Intellectual Property Rights

Internet Law, Social Media, and Privacy

The Formation of Sales and Lease Contracts

Agency Relationships in Business

Small Businesses and Limited Liability Companies

Corporations

Filters

Statements of fact made during the bargaining process are express warranties.

Game Source Stores are open to consumers. The UCC requirement of good faith imposes

Medical Supply Company and Health Care, Inc., enter into a contract for a sale of medical equipment and supplies. Under either a shipment contract or a destination contract, the seller must

Puffery is an expert's opinion that creates an express warranty.

The principle of good faith applies to both parties to a sales contract.

A shipment contract requires a seller to ship goods by a carrier.

Eliza buys a new motorcycle from Fab Cycles, Inc. The most important factor in determining whether an express warranty is created is whether

Elegant Carpets, Inc., and Fantastic Floors Stores enter into a contract for a sale of carpeting to be delivered under a shipment contract. This contract requires Elegant Carpets, the seller, to

Statements of opinion and value usually create express warranties.

A seller is not required to give a written warranty for consumer goods sold.

Soft Chair Company contracts to deliver 100 chairs to Stuffy Furnishings Store on May 1 for which Stuffy agrees to pay. Soft tells Stuffy on April 15 that delivery will be delayed until June 1. Stuffy may

Vehicle Wholesale Company and Walt's Retail Motors enter into a contract for a sale of used cars. Vehicle Wholesale assures Walt's that it has valid title to the vehicles. Under the UCC, warranties of title arise

Every sale or lease by a merchant who deals in goods of the kind sold or leased automatically gives rise to an implied warranty of merchantability.

If goods in every respect conform to a contract, the buyer or lessee does not have a right to reject the goods.

Water Pipe Company includes in its contracts a provision that reads, in large red letters, "There are no warranties that extend beyond the description on the face hereof." This disclaimer negates

In contracts involving a carrier, a seller can complete performance through a shipment contract or a destination contract.

Under the perfect tender rule, if tender is not perfect, the seller is obligated to try again.

Greg, a salesperson for Home Improvement Center, tells Irena, "This is the best floor sander I've ever seen." This statement is

If warranties are inconsistent, implied warranties displace express warranties.

An action for breach of warranty accrues when the seller or lessor tenders delivery.