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Exam 12: Sales and Lease Law

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Question 31

True/False

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To create an express warranty,a reasonable buyer must regard a seller's representation of fact-for example,on a product label-as part of the basis of the bargain.

A) True
B) False

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Question 32

Multiple Choice

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Brass Instruments,Inc. ,sells seventy-six trombones to Community Band.To avoid liability for most implied warranties,Brass should state in writing that the trombones are sold

A) as is.
B) by a merchant.
C) in perfect condition.
D) with no known defects.

E) B) and C)
F) None of the above

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Question 33

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A buyer can revoke his or her acceptance if it was predicated on a reasonable assumption that the goods' nonconformity would be cured,and the nonconformity was not cured.

To satisfy the UCC's Statute of Frauds,a writing indicating an intent to form a sales contract must signed by both parties

Grass Farm LLC offers to sell fifty bales of hay at a certain price to Horse Stable Inc.The owner of the stable responds,"We agree if you agree to make it sixty bales for the price." Their contract is formed according to

Colby contracts in writing to sell his Dodge-brand pick-up truck to Efrem for $10,500.Colby agrees to deliver the truck on Friday,and Efrem promises to pay the $10,500 on the following Monday.On Thursday,Efrem tells Colby that he changed his mind and will not buy the truck.Over the weekend,Efrem changes his mind again and tenders $10,500 to Colby on Monday.Colby has not sold the truck to another party but refuses the tender and refuses to deliver.Efrem claims that Colby has breached their contract.Colby contends that Efrem's repudiation released him from his duty to perform under the contract.Who is correct,and why?

Bean Processor Inc.agrees to ship a certain quantity of coffee beans to Coffee Café LLC.Bean sends to Coffee an e-mail indicating that the parties intended to form a contract.Against Bean,as a contract,the e-mail will be sufficient

Real Stones,Inc. ,and Sparkling Jewelry Stores enter into a contract for a sale of gemstones.Real Stones does not deliver.Sparkling can recover as damages the difference between

Blake,a salesperson for Custom Commercial Kitchens Inc. ,shows Dylan,a buyer for Eatery Inc. ,display items in Custom's showroom,stating that any purchased equipment will match the display.This statement is

A buyer will be deemed to have accepted delivered goods if,after a reasonable opportunity to inspect the goods,the buyer does not reject them.

Pipe Company includes in its contracts a provision that reads,in large red letters,"There are no warranties that extend beyond the description on the face hereof." This disclaimer negates

An excessive price for the goods and unequal bargaining power can indicate to a court that a sales contract is unconscionable.

Interstate Transport Company pays Trucks & Trailers Inc.a stated price for the use of seven tractor-trailer rigs for a year.Under Article 2A of the UCC,this is

The UCC imposes certain special business standards on merchants because of their commercial expertise.

Parties to sales and lease contracts are not free to agree to terms different from those stated in the UCC.

Precise Parts,Inc. ,and Quality Auto stores enter into a contract for a sale of auto parts that meet certain specifications.Precise Parts ships goods that do not comply.Quality Auto

If a breach occurs when the seller still possesses identified goods,the seller must nevertheless deliver the goods to pursue a remedy.

Article 2 sets forth the requirements for sales and lease contracts,and Article 2A covers warranties.

Chair Company contracts to deliver a dozen suites of dining room tables and chairs to Furniture Store on May 1.On April 15,Chair tells Furniture that delivery will be delayed until June 1.Furniture may

Minerals Ltd.contracts to provide several manufacturers with tin.When a cartel of tin-producing countries suddenly embargoes future shipments of tin to Minerals so that it cannot fulfill its contracts,the distributor