Exam 11: Domestic and International Sales

Most states willingly accepted the UCC's provisions on most topics because:

Article 2A of the UCC, recently adopted by most states, expands the UCC to cover:

In Griffith v. Clear Lakes Trout, Griffith grew trout for Clear Lakes; the parties got into a dispute over what were "market size" trout, as Clear Lakes wanted larger fish. The court held that:

Unlike the UCC, the CISG governs:

Article 2 allows the parties to enter into a binding agreement even though the contract price is to be determined at a later date.

A(n) ____ is one in which a seller agrees to provide all of a certain good that a buyer needs.

With respect to the buyer's basic obligations under Article 2, the most critical element is:

If your laptop computer is stolen, and then sold by the thief to a buyer who does not know it is stolen (is "innocent"), new title is created for the innocent buyer.

A disclaimer of an implied warranty is permitted if the disclaimer uses the word merchantability and the disclaimer:

Suppose a company in North Carolina contracts to buy toys from a company in China. The firms must use:

If the buyer relies on the seller's skill or judgment to select the goods for that purpose, an implied warranty ____is created.

A "reasonable price":

If a buyer rejects a shipment of goods as non-conforming, under the UCC the seller may have a right to cure the problem.

Under the CISG, contracts:

Under Article 2's statute of frauds, the basic rule is that a contract for the sale of goods priced at $5000 or more is not enforceable unless it is in writing and signed by the party against whom enforcement is sought.

Jones is "a merchant" under Article 2 even if he knows little about textile machinery but hires Smith as his agent to sell textile machinery. Smith has 25 years' experience in the textile industry.

The UCC requires less formality than does the common law of contracts.

Suppose two parties to a contract that is under the UCC decide to make a significant change in the contract, obligating the seller to provide more goods. When the terms of the contract change, it requires:

Article 2 imposes an obligation on a merchant/seller that goods being sold are reasonably fit for the purpose for which they are being sold and that they are of fair merchantable quality.

Under the common law, there is a doctrine called the perfect tender rule. It means the seller's tender of delivery is required to conform in detail to the agreement between the parties. The UCC restates the perfect tender rule, holding that if the goods or the tender of delivery fail in any respect to conform to the contract, the buyer may: