Question 1

Acceptance of goods, which disallows any later rejection of them, is accomplished only through express words.

Accepted Answer

A) True 
 B)False  False

Question 2

A "commercial unit" is a unit of goods that by commercial usage is a single unit and that, if divided, would be materially impaired in character or value.

Accepted Answer

A) True 
 B)False  True

Question 3

If no place of tender is indicated by the contract, delivery is presumed to be made at seller's place of business.

Accepted Answer

A) True 
 B)False  True

Question 4

The CISG:

Accepted Answer

A) does not follow the perfect tender rule. 
B) provides that the seller must, in all cases, deliver the goods within a reasonable time after the conclusion of the contract. 
C) provides that in most instances the buyer must pay the contract price before examining the goods. 
D) provides no right of "cure." 
A) does not follow the perfect tender rule. 
B) provides that the seller must, in all cases, deliver the goods within a reasonable time after the conclusion of the contract. 
C) provides that in most instances the buyer must pay the contract price before examining the goods. 
D) provides no right of "cure."

Question 5

A manifestation by the buyer of his unwillingness to become the owner of the goods is:

Accepted Answer

A) acceptance. 
B) revocation. 
C) rejection. 
D) tender. 
A) acceptance. 
B) revocation. 
C) rejection. 
D) tender.

Question 6

In an installment contract, if the contract is silent about payment, the Code provides that the seller may demand the price, if it can be apportioned, for each lot.

Accepted Answer

A) True 
 B)False

Question 7

The concept of the "right to cooperation" includes that:

Accepted Answer

A) where one party's required cooperation is not timely, the other party is excused from any resulting delay in her own performance. 
B) where one party's required cooperation is untimely, the other party is required to tender performance as if the first party had tendered in a timely manner. 
C) where neither party is at fault and the agreed manner of delivery becomes impracticable, both parties are required to negotiate a new price. 
D) None of the above. 
A) where one party's required cooperation is not timely, the other party is excused from any resulting delay in her own performance. 
B) where one party's required cooperation is untimely, the other party is required to tender performance as if the first party had tendered in a timely manner. 
C) where neither party is at fault and the agreed manner of delivery becomes impracticable, both parties are required to negotiate a new price. 
D) None of the above.

Question 8

In a sale of goods, the seller's tender of performance does not have to conform to the Code's perfect tender rule.

Accepted Answer

A) True 
 B)False

Question 9

Payment of a C.O.D.shipment constitutes an acceptance of the goods.

Accepted Answer

A) True 
 B)False

Question 10

The Elm Street Accounting Partnership has ordered two maroon office chairs for its waiting room from the Quality Office Supply Company.Quality sends two burgundy-red office chairs that the Elm Street partnership rejects.What, if any, rights does Quality have under the circumstances? Explain.

Accepted Answer

a.Under a shipment contract the seller i

Question 11

If Mary allows the seller, Sellmart Co., four weeks to repair the defects in her kitchen set and they have tried but have not done a good job at it, she may revoke her acceptance if she:

Accepted Answer

A) notifies Sellmart of revocation. 
B) does not use the table and chairs. 
C) could not discover the defects easily. 
D) inspected the goods herself. 
A) notifies Sellmart of revocation. 
B) does not use the table and chairs. 
C) could not discover the defects easily. 
D) inspected the goods herself.

Question 12

Seller, through no fault of its own, is unable to deliver the goods to buyer because the agreed type of carrier is unavailable.Explain what the Code requires.

Accepted Answer

The Code provides that when neither part

Question 13

Bill orders a custom-made suit from Rooks to be delivered by Friday at 5 p.m.When the suit is delivered to his office on Friday afternoon, he is in conference with a client.He accepts delivery and hangs the suit in his closet.When Bill tries on the suit Saturday evening, he discovers that the pants are cuffed.He had ordered cuffless trousers, so he calls Rooks on Monday and informs them that he is returning the suit.What can he do?

Accepted Answer

A) He cannot revoke acceptance since the cuffs are not difficult to discover. 
B) He can revoke acceptance if the cuffs substantially impair the value of the goods to him and Rooks will not remove the cuffs. 
C) He can reject the goods since he had not yet accepted them prior to inspection. 
D) He cannot reject the goods because the cuffs are curable. 
A) He cannot revoke acceptance since the cuffs are not difficult to discover. 
B) He can revoke acceptance if the cuffs substantially impair the value of the goods to him and Rooks will not remove the cuffs. 
C) He can reject the goods since he had not yet accepted them prior to inspection. 
D) He cannot reject the goods because the cuffs are curable.

Question 14

In their contract for the sale of window shades, Lela Window Treatments, Inc.and Shane agree that Lela will have the right to replace any defective goods that are delivered to Shane.This contractual provision will not have any effect because the perfect tender rule of the UCC will control in a sale of goods transaction.

Accepted Answer

A) True 
 B)False

Question 15

A merchant buyer of goods receives nonconforming goods.The merchant buyer rightfully rejects and appropriately notifies the seller, but the seller has no agent in the buyer's city.The goods are perishable and threaten to decline in value speedily.The merchant buyer has no further duty to the seller other than to await the seller's instructions.

Accepted Answer

A) True 
 B)False

Question 16

Goods are to be sent from Buffalo, NY to Raleigh, NC by UPS using the delivery terms F.O.B.Buffalo, NY.Where does tender occur?

Accepted Answer

A) Where the goods are identified. 
B) Where the goods are shipped. 
C) Where the goods are delivered. 
D) Where the goods are taken by the buyer. 
A) Where the goods are identified. 
B) Where the goods are shipped. 
C) Where the goods are delivered. 
D) Where the goods are taken by the buyer.

Question 17

If an anticipatory repudiation substantially impairs the value of the contract, the aggrieved party may:

Accepted Answer

A) await performance for a commercially reasonable time. 
B) resort to any appropriate remedy for breach. 
C) Both (a) and (b) are correct. 
D) None of the above. 
A) await performance for a commercially reasonable time. 
B) resort to any appropriate remedy for breach. 
C) Both (a) and (b) are correct. 
D) None of the above.

Question 18

On April 18, Marco bought a sailboat from a local marina.The boat was defective and did not turn about properly.Marco used the boat extensively all summer and the boat was no longer in the same condition as when it was bought.By September 30, Marco had waived his right to revoke acceptance.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following terms would indicate a destination contract?

Accepted Answer

A) F.O.B.city of buyer. 
B) F.O.B.city of seller. 
C) C.I.F. 
D) F.A.S.seller's port. 
A) F.O.B.city of buyer. 
B) F.O.B.city of seller. 
C) C.I.F. 
D) F.A.S.seller's port.

Question 20

Revocation of acceptance is effective without notice to the seller.

Accepted Answer

A) True 
 B)False

Exam 20: Performance

Acceptance of goods, which disallows any later rejection of them, is accomplished only through express words.

A "commercial unit" is a unit of goods that by commercial usage is a single unit and that, if divided, would be materially impaired in character or value.

If no place of tender is indicated by the contract, delivery is presumed to be made at seller's place of business.

The CISG:

A manifestation by the buyer of his unwillingness to become the owner of the goods is:

In an installment contract, if the contract is silent about payment, the Code provides that the seller may demand the price, if it can be apportioned, for each lot.

The concept of the "right to cooperation" includes that:

In a sale of goods, the seller's tender of performance does not have to conform to the Code's perfect tender rule.

Payment of a C.O.D.shipment constitutes an acceptance of the goods.

The Elm Street Accounting Partnership has ordered two maroon office chairs for its waiting room from the Quality Office Supply Company.Quality sends two burgundy-red office chairs that the Elm Street partnership rejects.What, if any, rights does Quality have under the circumstances? Explain.

If Mary allows the seller, Sellmart Co., four weeks to repair the defects in her kitchen set and they have tried but have not done a good job at it, she may revoke her acceptance if she:

Seller, through no fault of its own, is unable to deliver the goods to buyer because the agreed type of carrier is unavailable.Explain what the Code requires.

Goods are to be sent from Buffalo, NY to Raleigh, NC by UPS using the delivery terms F.O.B.Buffalo, NY.Where does tender occur?

If an anticipatory repudiation substantially impairs the value of the contract, the aggrieved party may:

On April 18, Marco bought a sailboat from a local marina.The boat was defective and did not turn about properly.Marco used the boat extensively all summer and the boat was no longer in the same condition as when it was bought.By September 30, Marco had waived his right to revoke acceptance.

Which of the following terms would indicate a destination contract?

Revocation of acceptance is effective without notice to the seller.

Introduction to Law

Business Ethics

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance, Breach, and Discharge

Contract Remedies

Introduction to Sales and Leases

Transfer of Title and Risk of Loss

Product Liability: Warranties and Strict Liability

Sales Remedies

Form and Content

Transfer

Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transfers

Relationship of Principal and Agent

Relationship With Third Parties

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature and Formation of Corporations

Financial Structure of Corporations

Management Structure of Corporations

Fundamental Changes of Corporations

Secured Transactions and Suretyship

Bankruptcy

Securities Regulation

Intellectual Property

Employment Law

Antitrust

Accountants Legal Liability

Consumer Protection

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International Business Law

Introduction to Property, Property Insurance, Bailments, and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

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