Exam 11: Domestic and International Sales

Under UCC Article 2, the buyer has an obligation to:

Although all parties to a sale under the UCC must meet the UCC's good faith standard, merchants must meet even higher standards of honesty and good faith.

Which of the following is a way in which the buyer may default on contractual obligations:

A seller's right to cure an improper tender of goods protects sellers from:

If a price is unclear when a contract is found to exist, the UCC directs the courts to:

When a buyer agrees to purchase all the goods produced by a seller, it is called an output contract.

Which of the following is not true, under UCC Article 2, about a merchant's firm offer:

If you order a guitar from Mexico over the Internet, from a seller in Mexico, unless otherwise stated, the sale is under the CISG.

In international contracts for the sale of goods:

The proper tender of goods to, and their acceptance by, the buyer entitles the seller:

If parties to a contract involving a sale of goods fail to specify price, and if there is dispute, so that a court must determine the price, under the UCC the price will be:

Under the UCC, parol evidence may not be used:

Contracts under Article 2 of the UCC could include:

The Convention on the International Sale of Goods (CISG):

Because the UCC's warranty requirements create a tough standard, sellers may wish to reduce their liability by issuing:

Tender is:

In Lee v. R&K Marine, where a boat that Lee bought became unusable after only three years when it fell apart, and the seller had expressly disclaimed all warranties, the court held:

In Griffith v. Clear Lakes Trout, where a dispute arose over trout, the court held that the buyer, Clear Lakes, had to accept small fish despite their not being "market size," because otherwise Griffith would go bankrupt.

If, in a contract under the CISG, a response to an offer contains material terms that are different, then the offer is held to be rejected and there is no contract.

In the event of a breach by the seller for shipping improper goods, and assuming the buyer correctly rejected the delivery of the goods, the buyer's incidental damages may include: