Exam 11: Domestic and International Sales

Under the UCC, oral testimony:

If, when considering a contract under the UCC, the court needs to resolve a term that is not clearly specified, the courts prefer to look to:

Under the ____the seller must tender the quality, quantity, and delivery method exactly as specified in the contract or the buyer has the right to reject the goods and rescind the contract.

Under Article 2 of the UCC, a merchant's firm offer:

According the UCC's statute of frauds all:

If a buyer rejects a shipment of goods as not conforming, the seller has the right to cure the defect, except for which of the following:

When the seller has delivered conforming goods, the buyer has a duty to accept them. This is referred to as:

In medieval Europe, rules governing trading among merchants developed called the law merchant.

Under the UCC, when contracts go back and forth between parties with conflicting terms, often written on standard forms, it is referred to as the "battle of the forms."

If some term in a contract is unclear or in dispute, the courts are instructed by the CISG to look to industry or trade practices for guidance.

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:

The buyer may recover damages from a non-performing seller equal to the difference between the contract price and the cover price, plus incidental and consequential damages.

Ordan's agreed to sell olives to Vic's. The goods were shipped Monday for Friday delivery. On Wednesday, while the goods were in transit, Vic's canceled the contract. Ordan's may:

Comparing the UCC to the CISG, when it comes to giving judges authority to fill in terms that are not complete in a contract:

A warranty is a statement or representation made by a seller that the goods being sold conform to the specified standards of quality, safety, performance and title.

Early sales law was governed by state law. This created a significant legal challenge for managers because:

A buyer who receives goods that are nonconforming may reject them as a breach of contract and withhold payment. This is referred to as:

When a seller has agreed to supply all of the needs of a buyer, there is a:

After a breach of contract by a buyer, expenses associated with stopping delivery, transporting and taking care of the goods after the breach, returning or reselling the goods are all examples of:

Under the common law, an offer can be revoked: