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Meanings of UCC Contracts

Instructions:

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

question 1 of 3

Carl is buying Catherine's used car. The two are neighbors, and neither is in the car business. Catherine drafts a document that outlines the payments Carl will make, plus 5% interest. Carl drafts his own document with the payments he will make, and purposely doesn't include interest. Neither Catherine or Carl has signed both documents. Which of the following is true?

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1. Billy's bakery makes an agreement with Fred's flour company. Billy is buying 50 pounds of gluten-free flour from Fred. Billy sends Fred a purchase order, and Fred sends Billy an acknowledgement. However, Fred's acknowledgement states that the flour is regular baking flour. Which of the following is true?

2. Sally orders 50 pairs of soccer shorts from Saul, a supplier. She owns a sporting goods store and needs them by Tuesday. Saul emails Sally an acknowledgement of her order, stating the socks will be delivered by Monday. Which of the following is true?

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About This Quiz & Worksheet

UCC contracts are important to be familiar with in certain areas of business, and this quiz/worksheet will help you test your understanding of their relevance and significance.

Quiz & Worksheet Goals

In these assessments you'll be tested on the terms and conditions of:

  • UCC contracts
  • Battle of the forms
  • Sales contracts

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Making connections - use understanding of UCC contracts as they apply to different situations
  • Reading comprehension - ensure that you draw the most important information from the lesson on the UCC
  • Information recall - access the knowledge you've gained regarding helpful details to know when parties differ on a sales contract

Additional Learning

To learn more about the UCC, review the accompanying lesson Meanings of UCC Contracts. This lesson covers the following objectives:

  • Understand what constitutes the sale of goods
  • Know what UCC stands for
  • Recall the relevance of Article 2 of the UCC
  • Recognize what constitutes a battle of the forms
  • Define merchants
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