Exam 27: Remedies for Breach of Sales Contracts

Fran had a very rare,and therefore expensive,automobile that she wished to sell.Fran worried that if the first attempt at selling the auto failed,the value of the auto might come into question.To prevent any potential loss of profit if the auto needed to be resold,Fran created a sales contract that provided for an estimation of damages should the contract later be breached by the potential buyer.A potential buyer was found,and the contract was signed.Later,because of a lack of sufficient financing,the buyer breached the sales contract.Fran requested the estimated damages provided for in the contract.The buyer refused,calling the clause unconscionable and excessive.Can Fran recover?

(Essay)

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Question 41

A buyer who cancels a sales contract because the seller fails to deliver the goods is entitled to recover as much of the purchase price as had been paid.

(True/False)

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Question 42

When a buyer has possession of goods after rightfully rejecting them,the buyer is treated:

(Multiple Choice)

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Question 43

If goods are specially manufactured and the buyer refuses to take them,it is possible for the seller to recover as damages the full purchase price and keep the goods.

(True/False)

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Question 44

If a buyer refuses to pay for goods after an acceptance that was not revoked,the seller may bring action to recover the purchase price and any incidental damages.

(True/False)

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Question 45

In an action by a third party against the buyer that is based on the seller's breach of warranty,the buyer must give notice of the action to the seller.

(True/False)

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Question 46

If a buyer procures the same or similar goods as those involved in the sales contract breached by the seller,the buyer:

(Multiple Choice)

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Question 47

Under the CISG,a buyer may reject goods

(Multiple Choice)

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Question 48

An action for breach of warranty generally must be brought within three (3)years of the breach.

(True/False)

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Question 49

The right of a buyer to cancel or rescind a sales contract is never impacted by a delay in exercising that right.

(True/False)

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Question 50

A buyer may revoke acceptance because of a seller's failure to complete promised repairs.

(True/False)

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Question 51

The statute of limitations for breach of a sales contract:

(Multiple Choice)

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Question 52

When a seller breaches a contract for the sale of goods to a buyer,the buyer is entitled to specific performance of the contract if the:

(Multiple Choice)

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Question 53

Showing 41 - 53 of 53

Exam 27: Remedies for Breach of Sales Contracts

A buyer who cancels a sales contract because the seller fails to deliver the goods is entitled to recover as much of the purchase price as had been paid.

When a buyer has possession of goods after rightfully rejecting them,the buyer is treated:

If goods are specially manufactured and the buyer refuses to take them,it is possible for the seller to recover as damages the full purchase price and keep the goods.

If a buyer refuses to pay for goods after an acceptance that was not revoked,the seller may bring action to recover the purchase price and any incidental damages.

In an action by a third party against the buyer that is based on the seller's breach of warranty,the buyer must give notice of the action to the seller.

If a buyer procures the same or similar goods as those involved in the sales contract breached by the seller,the buyer:

Under the CISG,a buyer may reject goods

An action for breach of warranty generally must be brought within three (3)years of the breach.

The right of a buyer to cancel or rescind a sales contract is never impacted by a delay in exercising that right.

A buyer may revoke acceptance because of a seller's failure to complete promised repairs.

The statute of limitations for breach of a sales contract:

When a seller breaches a contract for the sale of goods to a buyer,the buyer is entitled to specific performance of the contract if the:

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