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Exam 12: Sales and Lease Law

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Question 41

Multiple Choice

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Rice Corporation offers to sell Sushi Restaurants,Inc. ,five hundred bushels of rice.Sushi responds,"We agree to buy five hundred bushels only if the rice is Grade A quality." Without more,their contract is formed according to

A) the new terms of the acceptance.
B) whatever is reasonable.
C) the terms of the original offer.
D) none of the terms.

E) All of the above
F) A) and B)

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Question 42

Multiple Choice

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Eliza buys a new motorcycle from Fast Bikes,Inc.The most important factor in determining whether an express warranty is created is whether

A) Eliza expresses to Fast Bikes what she wants warranted.
B) Eliza's desire for the cycle becomes part of her motivation to deal.
C) Fast Bikes expresses to Eliza what it expects of its customers.
D) Fast Bikes' promise becomes part of the basis of the bargain.

E) A) and B)
F) B) and C)

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Question 43

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On July 10,Bob's Pet Supply Store orders fifty small dog collars from Canine Collars,Inc.to be delivered by July 15.On July 13,Canine Collars tenders fifty large dog collars.Bob's rejects the shipment.Canine Collars has

Brooke is an art collector and hires a broker to buy and sell artworks on her behalf.Under the UCC,in those transactions,Brooke has the status of

If a buyer rightfully rejects nonconforming goods,he or she can resell them and retain the proceeds,without crediting the amount to the seller.

Bon,an agent for City Motors Inc. ,e-mails Dale on May 1 that the dealer will sell to her a 2018 Ford pick-up truck for $25,000 between May 1 and July 1.Bon's offer to Dale is

When the time for performance under a contract expires,the right to cure also expires.

An implied warranty can arise as a result of a well-recognized trade custom that a court could infer the parties intended to apply to their contract.

If,before the time for contract performance,one party communicates an intent not to perform,the other party can only wait to see if the repudiating party will decide to perform.

Steel Buildings,Inc. ,agrees to sell four portable garages to Truck Service Center.Five days later,Truck Service refuses delivery and cancels the contract.Steel is entitled to

The UCC provides that a sale or lease contract will fail for indefiniteness if more than one of its terms is left open.

Life Products Inc.enters into a contract to sell medical supplies to Med Clinic,which later sells some of the items to Nina,a patient and consumer.Article 2 of the UCC applies to