Question 1

Match each statement with the correct term below.
-identification

Accepted Answer

A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned. 
A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned.

Question 2

In what three situations will a seller recover the price of goods plus incidental damages?

Accepted Answer

The Code permits the seller to recover t

Question 3

Which of the following would not be a remedy available to the seller on account of buyer's breach?

Accepted Answer

A) Stop delivery of the goods by the carrier. 
B) Require the financially sound buyer to return the goods. 
C) Recover the price. 
D) Cancel the contract. 
A) Stop delivery of the goods by the carrier. 
B) Require the financially sound buyer to return the goods. 
C) Recover the price. 
D) Cancel the contract.

Question 4

Demrow Co.,which contracted to buy 400 fishing poles from Royal Industries,anticipatorily breached the contract.Royal may proceed to identify to the contract conforming goods in its possession so that it can exercise the remedy of resale of the goods.

Accepted Answer

A) True 
 B)False

Question 5

Match each statement with the correct term below.
-disclaimer

Accepted Answer

A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned. 
A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned.

Question 6

If the buyer makes a wrongful rejection,the seller may resell the goods in good faith and in a commercially reasonable manner and the seller may recover from the buyer the difference between the contract price and the resale price,plus any incidental damages,minus expenses saved.

Accepted Answer

A) True 
 B)False

Question 7

On July 30 Christina,in Knoxville,agrees to sell machine-stitched quilts to Deanna,in Los Angeles for $2,500 C.O.D.,with delivery by October 1.When Christina fails to deliver the quilts,Deanna suffers incidental damages of $400 and consequential damages of $300.Deanna may recover:

Accepted Answer

A) damages equal to the difference between the market price on July 30 in Knoxville and $2,500 in addition to the remedy of cover. 
B) the difference between the market price on October 1 in Knoxville and $2,500, plus $400 and $300, less expenses saved because of Christina's breach. 
C) the difference between the market price on July 30 and October 1 in Los Angeles, plus $400 and $300, less expenses saved because of Christina's breach. 
D) only through the equitable remedy of specific performance. 
A) damages equal to the difference between the market price on July 30 in Knoxville and $2,500 in addition to the remedy of cover. 
B) the difference between the market price on October 1 in Knoxville and $2,500, plus $400 and $300, less expenses saved because of Christina's breach. 
C) the difference between the market price on July 30 and October 1 in Los Angeles, plus $400 and $300, less expenses saved because of Christina's breach. 
D) only through the equitable remedy of specific performance.

Question 8

Match each statement with the correct term below.
-sale

Accepted Answer

A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned. 
A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned.

Question 9

Under what circumstances may the buyer seek the remedy of replevin?

Accepted Answer

A) Where the buyer has been unable to obtain cover. 
B) Where the goods have been shipped under reservation of a security interest in the seller and that interest has been satisfied. 
C) Where the goods are specially manufactured but can be purchased from another source. 
D) Both (a) and (b) above are correct. 
A) Where the buyer has been unable to obtain cover. 
B) Where the goods have been shipped under reservation of a security interest in the seller and that interest has been satisfied. 
C) Where the goods are specially manufactured but can be purchased from another source. 
D) Both (a) and (b) above are correct.

Question 10

A buyer's incidental damages include reasonable expenses or commissions in effecting cover.

Accepted Answer

A) True 
 B)False

Question 11

The Code permits the seller to recover the price plus incidental damages in which of the following situation(s)?

Accepted Answer

A) Where the buyer has accepted the goods. 
B) Where conforming goods have been lost or damaged before risk of loss has passed to the buyer. 
C) Where the goods have been identified to the contract and there is a ready market available for their resale at a reasonable price. 
D) None of the above. 
E) All of the above. 
A) Where the buyer has accepted the goods. 
B) Where conforming goods have been lost or damaged before risk of loss has passed to the buyer. 
C) Where the goods have been identified to the contract and there is a ready market available for their resale at a reasonable price. 
D) None of the above. 
E) All of the above.

Question 12

Match each statement with the correct term below.
-rejection of the goods

Accepted Answer

A) Unfairness in the bargaining process. 
B) An action at law to recover specific goods in the possession of a defendant that are being unlawfully withheld from the plaintiff. 
C) An amount specified by the parties that is recoverable in the event of a breach. 
D) A seller makes available to a buyer goods conforming to the contract and so notifies the buyer. 
E) The inability of a person to pay his debts in the ordinary course of business or as they become due.
F)Total liabilities exceeding the total value of all assets.
G)Commercially reasonable expenses directly resulting from a breach.
H)Expenses resulting from the buyer's requirements and which the seller had reason to know at the time of contracting; also injury to person or property proximately resulting from breach of warranty.
I)A buyer's purchase of goods in substitution for those not delivered by a breaching seller.
J)Oppressive or grossly unfair contractual provisions.
K)The Code rule that a seller's tender of performance must exactly conform to the contract terms.
L)The right of a seller under the Code to correct a nonconforming delivery of goods to the buyer.
M)The manifestation by a buyer of unwillingness to become the owner of the goods.
N)Rescission of a buyer's acceptance of the goods based upon a nonconformity which substantially impairs their value. 
A) Unfairness in the bargaining process. 
B) An action at law to recover specific goods in the possession of a defendant that are being unlawfully withheld from the plaintiff. 
C) An amount specified by the parties that is recoverable in the event of a breach. 
D) A seller makes available to a buyer goods conforming to the contract and so notifies the buyer. 
E) The inability of a person to pay his debts in the ordinary course of business or as they become due.
F)Total liabilities exceeding the total value of all assets.
G)Commercially reasonable expenses directly resulting from a breach.
H)Expenses resulting from the buyer's requirements and which the seller had reason to know at the time of contracting; also injury to person or property proximately resulting from breach of warranty.
I)A buyer's purchase of goods in substitution for those not delivered by a breaching seller.
J)Oppressive or grossly unfair contractual provisions.
K)The Code rule that a seller's tender of performance must exactly conform to the contract terms.
L)The right of a seller under the Code to correct a nonconforming delivery of goods to the buyer.
M)The manifestation by a buyer of unwillingness to become the owner of the goods.
N)Rescission of a buyer's acceptance of the goods based upon a nonconformity which substantially impairs their value.

Question 13

Denver has rightfully rejected nonconforming goods that were delivered to him.Explain his interest in those goods in his possession and his rights and duties regarding the goods.

Accepted Answer

Denver has a security interest in the re

Question 14

Match each statement with the correct term below.
-good faith

Accepted Answer

A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned. 
A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned.

Question 15

The Code's remedies are cumulative,therefore,a seller may both withhold delivery of the goods and identify goods to the contract.

Accepted Answer

A) True 
 B)False

Question 16

Match each statement with the correct term below.
-sale or return

Accepted Answer

A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned. 
A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned.

Question 17

Under the Code,what rights do the parties have to affect the possible remedies available in the case of breach?

Accepted Answer

Within specified limits,the Code permits

Question 18

Since the purpose of remedies under the Code is compensation,punitive damages are generally available.

Accepted Answer

A) True 
 B)False

Question 19

A buyer's commercially reasonable charges for the care and custody of goods that a buyer has rightfully rejected are known as:

Accepted Answer

A) incidental damages. 
B) liquidated damages. 
C) consequential damages. 
D) cover charges. 
A) incidental damages. 
B) liquidated damages. 
C) consequential damages. 
D) cover charges.

Question 20

Match each statement with the correct term below.
-goods

Accepted Answer

A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned. 
A) A sequence of previous conduct between parties establishing a basis for interpreting their agreement. 
B) A practice or method of dealing regularly observed and followed in a place, vocation, or trade. 
C) Contractual obligation arising by operation of law providing the goods are reasonably fit for the ordinary purposes for which they are used. 
D) Transfer of possession without title to buyer for a trial period; title and risk of loss remain with seller until buyer accepts the goods. 
E) A contract in which the seller bears the risk of loss and expense until the goods are delivered to the carrier for shipment.
F)Transfer of right to possession and use of goods in return for consideration.
G)Transfer of title to goods from seller to buyer for a price.
H)An offer in writing by a merchant that gives assurance it will be kept open for a period of time up to three months.
I)A contract in which goods are sold and delivered to the buyer with an option to return them to the seller; the risk of loss is on the buyer until she returns the goods.
J)Delivery term for a shipment contract, free on board.
K)Movable personal property.
L)Concept under which the Code excuses performance when an unforeseen supervening event, not within the contemplation of the parties at the time of contracting, occurs.
M)Limits the time period for which a manufacturer is liable for injury caused by its product.
N)Historically, a contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a lawsuit.
O)An affirmation of fact or promise about the goods or a description, including a sample of the goods, which becomes part of the basis of the bargain.
P)A contract in which the seller is required to tender delivery of the goods at a particular destination; the seller bears the risk of loss until the goods are tendered to the buyer.
Q)A negation of a warranty.
R)Designation of specific goods as goods to which the contract of sale refers.
S)A person who is a dealer in the goods, or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved, or who employs an agent or broker whom he holds out as having such knowledge or skill.
T)Honesty in fact in the conduct or transaction concerned.

Exam 23: Sales Remedies

Match each statement with the correct term below. -identification

In what three situations will a seller recover the price of goods plus incidental damages?

Which of the following would not be a remedy available to the seller on account of buyer's breach?

Demrow Co.,which contracted to buy 400 fishing poles from Royal Industries,anticipatorily breached the contract.Royal may proceed to identify to the contract conforming goods in its possession so that it can exercise the remedy of resale of the goods.

Match each statement with the correct term below. -disclaimer

If the buyer makes a wrongful rejection,the seller may resell the goods in good faith and in a commercially reasonable manner and the seller may recover from the buyer the difference between the contract price and the resale price,plus any incidental damages,minus expenses saved.

On July 30 Christina,in Knoxville,agrees to sell machine-stitched quilts to Deanna,in Los Angeles for $2,500 C.O.D.,with delivery by October 1.When Christina fails to deliver the quilts,Deanna suffers incidental damages of $400 and consequential damages of $300.Deanna may recover:

Match each statement with the correct term below. -sale

Under what circumstances may the buyer seek the remedy of replevin?

A buyer's incidental damages include reasonable expenses or commissions in effecting cover.

The Code permits the seller to recover the price plus incidental damages in which of the following situation(s)?

Match each statement with the correct term below. -rejection of the goods

Denver has rightfully rejected nonconforming goods that were delivered to him.Explain his interest in those goods in his possession and his rights and duties regarding the goods.

Match each statement with the correct term below. -good faith

The Code's remedies are cumulative,therefore,a seller may both withhold delivery of the goods and identify goods to the contract.

Match each statement with the correct term below. -sale or return

Under the Code,what rights do the parties have to affect the possible remedies available in the case of breach?

Since the purpose of remedies under the Code is compensation,punitive damages are generally available.

A buyer's commercially reasonable charges for the care and custody of goods that a buyer has rightfully rejected are known as:

Match each statement with the correct term below. -goods

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

Performance

Transfer of Title and Risk of Loss

Product Liability: Warranties and Strict Liability

Form and Content

Transfer and 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

Environmental Law

International Business Law

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

Interests in Real Property

Transfer and Control of Real Property

Trusts and Wills

Filters