Question 1

Match between columns
                        Premises: Person who provides a product or good.
An offer that cannot be revoked for a reasonable time period.
Person who purchases a good or product.
The passing of title from a seller to a buyer for a price.
Lack of meaningful choice in a contract.
A contract for "as much as we need."
A transfer of the right of possession and use of goods for term.
Things that are moveable at the time of identification of the contract.
A contract for "all goods we produce."
Laws governing commercial transactions.

Accepted Answer

The Answer of lease and seller and output contract and is...

Question 2

An offer can be a '"firm offer" even without consideration under Article 2.

Accepted Answer

A) True 
 B)False

Question 3

Article 2 of the Uniform Commercial Code deals with which of the following?

Accepted Answer

A)  Leases
B)  Stocks
C)  Sales
D)  Secured transactionsE) None of the above
F) All of the above

Question 4

Under Article 2, contracts for sale of goods over $500 must be in writing.

Accepted Answer

A) True 
 B)False

Question 5

Parol evidence can be used to explain which of the following?

Accepted Answer

A)  Course of dealing
B)  Usage of trade
C)  Course of performance
D)  All of the aboveE) A) and B)
F) C) and D) D

Question 6

Under Article 2, the rules for offer and acceptance have been substantially relaxed.

Accepted Answer

A) True 
 B)False

Question 7

The Uniform Commercial Code has ______ new articles.

Accepted Answer

A)  six
B)  two
C)  four
D)  threeE) None of the above
F) All of the above

Question 8

Article 2A regulates transactions between

Accepted Answer

A)  offeror and offeree
B)  obligor and obligee
C)  lessor and lessee
D)  promisor and promiseeE) A) and C)
F) A) and B)

Question 9

The Statute of Frauds does not require a writing for which of the following?

Accepted Answer

A)  Specially manufactured goods
B)  Goods over $500
C)  Goods between merchants
D)  None of the aboveE) A) and B)
F) All of the above

Question 10

Article 2A has been adopted by ______ states.

Accepted Answer

A)  all
B)  some
C)  ten
D)  twenty-oneE) A) and B)
F) A) and C)

Question 11

Contracts providing that a seller will sell to the buyer all goods the seller produces are _____ contracts.

Accepted Answer

A)  requirement
B)  output
C)  executed
D)  contingentE) B) and C)
F) A) and D)

Question 12

Article 2 of the Uniform Commercial Code deals with the sale of goods.

Accepted Answer

A) True 
 B)False

Question 13

The Uniform Commercial Code has only nine articles.

Accepted Answer

A) True 
 B)False  False

Question 14

Additional consistent terms still form a contract if

Accepted Answer

A)  the party does not object
B)  the terms do not materially alter
C)  all of the above
D)  none of the aboveE) C) and D)
F) B) and D)

Question 15

Which of the following was substantially changed under the Uniform Commercial Code?

Accepted Answer

A)  Mirror Image Rule
B)  Mailbox Rule
C)  Parol Evidence Rule
D)  Statute of FraudsE) B) and C)
F) C) and D)

Question 16

To fall under the parameters of the Uniform Commercial Code, a sale may take place  only between two merchant sellers.

Accepted Answer

A) True 
 B)False  False

Question 17

Unconscionable contracts may

Accepted Answer

A)  be overly harsh.
B)  lack meaningful choice.
C)  be too lopsided.
D)  all of the above.E) B) and D)
F) B) and C)

Question 18

Under the Uniform Commercial Code, a contract cannot be formed if terms are missing.

Accepted Answer

A) True 
 B)False

Question 19

Course of dealing can be used to explain or clarify a contract.

Accepted Answer

A) True 
 B)False

Question 20

Article 2A deals with lease transactions.

Accepted Answer

A) True 
 B)False

Exam 12: Sales: Article 2 of the Uniform Commercial Code

Matching:

An offer can be a '"firm offer" even without consideration under Article 2.

Correct Answer
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Article 2 of the Uniform Commercial Code deals with which of the following?

Correct Answer
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Under Article 2, contracts for sale of goods over $500 must be in writing.

Correct Answer
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Parol evidence can be used to explain which of the following?

Correct Answer
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D

Under Article 2, the rules for offer and acceptance have been substantially relaxed.

Correct Answer
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The Uniform Commercial Code has ______ new articles.

Correct Answer
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Article 2A regulates transactions between

Correct Answer
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The Statute of Frauds does not require a writing for which of the following?

Correct Answer
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Article 2A has been adopted by ______ states.

Correct Answer
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Contracts providing that a seller will sell to the buyer all goods the seller produces are _____ contracts.

Correct Answer
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Article 2 of the Uniform Commercial Code deals with the sale of goods.

Correct Answer
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The Uniform Commercial Code has only nine articles.

Correct Answer
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False

Additional consistent terms still form a contract if

Correct Answer
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Which of the following was substantially changed under the Uniform Commercial Code?

Correct Answer
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To fall under the parameters of the Uniform Commercial Code, a sale may take place only between two merchant sellers.

Correct Answer
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False

Unconscionable contracts may

Correct Answer
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Under the Uniform Commercial Code, a contract cannot be formed if terms are missing.

Correct Answer
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Course of dealing can be used to explain or clarify a contract.

Correct Answer
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Article 2A deals with lease transactions.

Correct Answer
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Exam 12: Sales: Article 2 of the Uniform Commercial Code

Matching:

An offer can be a '"firm offer" even without consideration under Article 2.

Correct AnswerverifiedShow Answer

Article 2 of the Uniform Commercial Code deals with which of the following?

Correct AnswerverifiedShow Answer

Under Article 2, contracts for sale of goods over $500 must be in writing.

Correct AnswerverifiedShow Answer

Parol evidence can be used to explain which of the following?

Correct AnswerverifiedD

Under Article 2, the rules for offer and acceptance have been substantially relaxed.

Correct AnswerverifiedShow Answer

The Uniform Commercial Code has ______ new articles.

Correct AnswerverifiedShow Answer

Article 2A regulates transactions between

Correct AnswerverifiedShow Answer

The Statute of Frauds does not require a writing for which of the following?

Correct AnswerverifiedShow Answer

Article 2A has been adopted by ______ states.

Correct AnswerverifiedShow Answer

Contracts providing that a seller will sell to the buyer all goods the seller produces are _____ contracts.

Correct AnswerverifiedShow Answer

Article 2 of the Uniform Commercial Code deals with the sale of goods.

Correct AnswerverifiedShow Answer

The Uniform Commercial Code has only nine articles.

Correct AnswerverifiedFalse

Additional consistent terms still form a contract if

Correct AnswerverifiedShow Answer

Which of the following was substantially changed under the Uniform Commercial Code?

Correct AnswerverifiedShow Answer

To fall under the parameters of the Uniform Commercial Code, a sale may take place only between two merchant sellers.

Correct AnswerverifiedFalse

Unconscionable contracts may

Correct AnswerverifiedShow Answer

Under the Uniform Commercial Code, a contract cannot be formed if terms are missing.

Correct AnswerverifiedShow Answer

Course of dealing can be used to explain or clarify a contract.

Correct AnswerverifiedShow Answer

Article 2A deals with lease transactions.

Correct AnswerverifiedShow Answer

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D

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False

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False

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