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Seller's Remedies Under the Uniform Commercial Code

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

When a buyer breaches a sales contract, the UCC's Article 2 allows several different seller's remedies. Which of the following is NOT a seller's remedy?

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1. A buyer breaches a sales contract when the buyer _____.

2. Bert sells Beanie Burpies. Beanie Burpies are toys that are popular for trading. Angie contracts to buy 100 Beanie Burpies from Bert for $1,000. Angie then breaches the contract and doesn't buy the Beanie Burpies. Unfortunately, in the meantime, Pokie Pencils have become the newest popular toy item. There's no longer high demand for Beanie Burpies, so they aren't worth near as much as they were before. Bert's will likely be _____.

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About This Quiz & Worksheet

The quiz will test you on the different seller's remedies. It will ask you about what happens when a buyer breaches a sales contract. Other questions will give you scenarios related to breached contracts. You will then need to explain what the seller can do to remedy their situation.

Quiz & Worksheet Goals

The quiz tests you on the following:

  • UCC's Article 2
  • Breached sales contracts
  • Types of seller's remedies

Skills Practiced

You will practice these skills:

  • Reading comprehension - ensure that you draw the most important information from the related business lesson
  • Making connections - use understanding of the concept of breached contracts
  • Interpreting information - verify that you can read information regarding breached contracts and interpret it correctly
  • Information recall - access the knowledge you've gained regarding seller's remedies

Additional Learning

The quiz is just a single part of your learning adventure. Make sure to also complete the partner lesson, Seller's Remedies Under the Uniform Commercial Code. This lesson covers the following:

  • Understanding the Uniform Commercial Code
  • Exploring the UCC's Article 2
  • Describing the different ways buyers breach contracts
  • Examining types of seller's remedies
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