A) The agreement is likely binding because under the UCC, if two merchants have an oral agreement, a written memo from either party to the other is deemed to satisfy the statute of frauds, even if it is not acknowledged by the receiving party. If it is not objected to within 10 days of receipt, the oral agreement, memorialized by the memo, is binding.
B) The agreement is likely binding because under the UCC, if two merchants have an oral agreement, there is no requirement of a writing so long as another witness is willing to confirm that within 10 days of the agreement, one of the parties memorialized the agreement by a memorandum to the file, even if it was not sent to the other party.
C) The agreement is binding because the UCC has no requirement of a writing under any circumstances.
D) The agreement is not binding because Kim never signed anything by which she agreed to the terms of the oral agreement.
E) The agreement is not binding because Susie did not send Kim a registered letter memorializing the oral conversation as is required by the UCC.
G) B) and E)
Correct Answer
verified
Correct Answer
verified
A) Articles
B) Merchandise
C) Goods
D) Attachments
E) Saleable things
G) A) and D)
Correct Answer
verified
Correct Answer
verified
B) False
Correct Answer
verified
Correct Answer
verified
Correct Answer
verified
The UCC defines merchant as a person who...View Answer
Correct Answer
verified
View Answer
A) A one-year irrevocability period
B) A six-month irrevocability period
C) A four-month irrevocability period
D) A three-month irrevocability period
E) A one-week irrevocability period
G) C) and D)
Correct Answer
verified
Correct Answer
verified
A) The court ruled that a trade name is a good.
B) The court ruled that a trade name is not a good.
C) The court ruled that a trade name is a good if other items that are clearly goods are involved in a contractual dispute; otherwise, it is a nongood.
D) The court ruled that a trade name is a good if it was considered a good in other previously settled disputes between the same parties; otherwise, it is a nongood.
E) The court ruled that a trade name is a good if it is the only matter involved in a dispute between parties; otherwise, it is a nongood.
G) None of the above
Correct Answer
verified
Correct Answer
verified
A) No, because once the parties are in court, positions of the parties are frozen.
B) No, because once the parties are in court, only the judge can add evidence.
C) Yes, she should attempt to get the customer to admit to the judge that he ordered the T-shirts.
D) Yes, she should dismiss the case before she is charged with sanctions.
E) Yes, she should dismiss the case before she is charged with the other party's attorney fees.
G) None of the above
Correct Answer
verified
Correct Answer
verified
A) That the CISG did not apply because the contract referred to provisions of the UCC and that the statute of frauds contained within the UCC barred enforcement of the contract.
B) That the CISG did not apply because a construction of an arena, which would result in a type of realty, was concerned and that the statute of frauds contained within the UCC barred enforcement of the contract.
C) That the CISG did not apply because significant provisions in the contract were left unwritten but that the statute of frauds was inapplicable.
D) That the CISG applied and that oral discussions could have formed a contract.
E) That the CISG applied and that no contract could have resulted because of the lack of a writing.
G) D) and E)
Correct Answer
verified
Correct Answer
verified
A) The contract is void.
B) The court can only refuse to enforce the contract or lease in total.
C) The court can only refuse to enforce the parts of the contract or lease that are unfair.
D) The court either can refuse to enforce the contract or lease or can enforce the parts of the contract or lease that are fair.
E) The court has no power to enforce the lease and must award the innocent party punitive damages.
G) B) and C)
Correct Answer
verified
Correct Answer
verified
A) That the contract involving the purchase of the cell towers was predominately for the purchase of real estate and that the towers were, therefore, not goods.
B) That the contract involving the purchase of the cell towers predominately involved cellular telephone service and that the towers were, therefore, not goods.
C) That the contract involving the purchase of the cell towers was not for goods because the towers were not easily movable.
D) That the contract involving the purchase of the cell towers was predominately for goods because common law was applied by contract.
E) That the contract involving the purchase of the cell towers was predominantly for the sale of goods for reasons including that the towers had physical property and could be moved.
G) B) and E)
Correct Answer
verified
Correct Answer
verified
B) False
Correct Answer
verified
Correct Answer
verified
A) $100
B) $500
C) $1,000
D) $1,500
E) $5,000
G) A) and B)
Correct Answer
verified
Correct Answer
verified
A) Combined
B) Mixed
C) Service
D) Goods
E) Total
G) B) and E)
Correct Answer
verified
Correct Answer
verified
B) False
Correct Answer
verified
Correct Answer
verified
A) A lease
B) A transaction
C) A transfer of use
D) A sale
E) A negotiated transfer
G) A) and B)
Correct Answer
verified
Correct Answer
verified
A) When dispatched.
B) When received.
C) When received only if acceptance by electronic means is made, otherwise on dispatch.
D) When dispatched only if the U.S. mail is used, otherwise on receipt.
E) When dispatched only when the telephone is used, otherwise on receipt.
G) B) and D)
Correct Answer
verified
Correct Answer
verified
A) Additional terms that are consistent with the terms in the agreement, evidence that helps the court interpret the agreement, and any evidence as to price.
B) Evidence that helps the court interpret the agreement, but not additional terms that are consistent with the terms in the agreement or any evidence as to price.
C) Any evidence as to price, but not additional terms that are consistent with the terms in the agreement or evidence that helps the court interpret the agreement.
D) Additional terms that are consistent with the terms in the agreement, but not evidence that helps the court interpret the agreement or any evidence as to price.
E) Additional terms that are consistent with the terms in the agreement and evidence that helps the court interpret the agreement, but not any evidence as to price.
G) A) and C)
Correct Answer
verified
Correct Answer
verified
A) The International Convention of Contracts for International Sales
B) The Federation Convention on the Uniform Commercial Code
C) The Worldwide Federation Convention on the Sale of Goods
D) The United Nations Convention on Contracts for the International Sale of Goods
E) The International Agreement on the Sale of Goods
G) D) and E)
Correct Answer
verified
Correct Answer
verified
A) $100
B) $500
C) $1,000
D) $1,500
E) $5,000
G) A) and D)
Correct Answer
verified
Correct Answer
verified
A) Real estate, corporate stocks, copyrights, and trade fixtures all meet the definition of a good under the UCC.
B) Corporate stocks, real estate, and copyrights meet the definition of a good under the UCC, but trade fixtures do not.
C) Trade fixtures meet the definition of a good under the UCC, but real estate, corporate stocks, and copyrights do not.
D) Copyrights meet the definition of a good under the UCC, but real estate, corporate stocks, and trade fixtures do not.
E) Real estate, trade fixtures, and corporate stocks meet the definition of a good under the UCC, but copyrights do not.
G) B) and D)
Correct Answer
verified
Correct Answer
verified
Showing 41 - 60 of 65
Related Exams