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Sales & the Law Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. The UCC's statute of frauds includes contracts for the sale of goods worth or more.

Question 2 2. Under the UCC, a sale of goods is defined as the:

Question 3 3. Sometimes the UCC treats an agreement as a valid sales contract, even though the parties differ on the terms. What is this known as?

Question 4 4. Gordon contacts Tammy's Tulips and enters a contract with Tammy. Gordon orders 1,000 orange tulip bulbs to be delivered on or before November 15. On November 1, Gordon receives a delivery from Tammy's Tulips. When Gordon opens the boxes to inspect the tulips, he discovers that they are yellow, rather than orange, tulips. Gordon contacts Tammy's Tulips to let Tammy know he is rejecting this shipment of yellow tulips. The tulips aren't what Gordon ordered, and are therefore nonconforming goods. Under Article 2, a seller must provide exactly what the buyer ordered, and is known as:

Question 5 5. There are certain cases when a buyer simply can't find comparable goods in order to purchase reasonable replacement goods. Which remedy is rare and only used when no other legal remedy will suffice?

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Question 6 6.

A seller's legal remedies include:

1. Canceling the contract

2. Withholding or not delivering the goods

3. Reclaiming the goods

Question 7 7. As a salesperson, I'll especially want to be familiar with the UCC's Article _. This article is simply entitled '_' and specifically addresses contracts for the sale of goods.

Question 8 8. The UCC requires contracts to be in writing when:

Question 9 9. Kyle and Kim have an oral contract for the lease of goods. Kim will lease equipment from Kyle at a rate of $100 a month for six months. At the end of the lease, Kim wishes to modify the terms of the contract so that she can lease the equipment for five more months. Does this modification have to be in writing?

Question 10 10. Charlotte orders 100 milk chocolate bars from Charlie to be delivered by September 1. Charlie delivers 100 dark chocolate bars to Charlotte on August 25. Which of the following is true?

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Question 11 11. Under Article 2, a seller must provide exactly what the buyer ordered. This is known as:

Question 12 12. Blake orders and pre-pays for 30 cans of blue paint at ABC Paint Store. The paint store delivers 30 cans of red paint. Blake leaves a message for ABC Paint Store telling them about the problem but immediately goes to XYZ Paint Store and buys the 30 cans of blue paint he needs. Blake then sues ABC Paint Store in order to get his money back. Blake can't recover from ABC Paint Store because of which of the following reasons?

Question 13 13. Under the UCC, an acceptance is achieved _____.

Question 14 14. Under Article _ of UCC, if the goods 'fail in any respect to conform to the contract' then the buyer can reject the goods.

Question 15 15. Under the UCC, this person is defined as someone who sells or contracts to sell goods:

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Question 16 16. 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?

Question 17 17. 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 acknowledgment. However, Fred's acknowledgment states that the flour is regular baking flour. Which of the following is true?

Question 18 18. When a salesperson discusses a warranty, he or she is usually referring to an:

Question 19 19. Sometimes additional or different terms are included in an acceptance. Under the UCC, these terms become part of the contract unless:

Question 20 20.

True or false:

1. The UCC is law.

2. The UCC doesn't specifically define offer.

3. The UCC follows common law and general contract principles that tell us an offer is a proposal intended to create a contract if the other party agrees to that proposal.

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Question 21 21. If a seller breaches a sales contract and the buyer purchases reasonable replacement goods, what is the seller's liability limited to?

Question 22 22. In rare circumstances, a court will require a breaching party to fulfill a sales contract to deliver unique goods. What is this known as?

Question 23 23.

Once a buyer effectively revokes acceptance, the goods are returned to the seller and the purchase price is refunded to the buyer. This means the buyer can:

1. Cancel the contract

2. Recover anything paid

3. Make no further payments

Question 24 24. Maurice orders 100 red markers from Martha to be used for a special art project. Martha tells Maurice that she doesn't have red markers, but she'll send blue markers. Maurice receives and accepts the blue markers. He contacts Martha the next day to tell her the markers are nonconforming and he's revoking his acceptance. Under the UCC, which statement describes Maurice's rights?

Question 25 25.

When both parties are merchants, additional or different terms in the second document normally become part of the contract. Under the UCC, these terms become a part of the sales contract unless:

1. The offer specifically lists additional or different terms.

2. The additional or different terms materially alter the offer.

3. A party notifies the other that he or she objects to the additional or different terms.

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Question 26 26. The UCC's statute of frauds is applicable law in which states?

Question 27 27. Susie orders 20 pairs of socks for her soccer team. When Susie receives the socks, she likes them. She sends payment to the sock company. She then hands them out to her soccer players at their next practice, two weeks later. What is the most likely result?

Question 28 28. Sometimes a buyer accepts goods and then decides he or she should have rejected the goods. The buyer will seek to withdraw his or her acceptance. Under the UCC, what is this known as?

Question 29 29. Michael buys a new microwave oven. When he's at the appliance store the salesperson tells him, 'You won't find a better microwave than this one.' After successfully using the microwave for just one month, the microwave breaks. This is an example of:

Question 30 30. The UCC allows various types of legal relief that are meant to compensate a party for any harm caused. What are these known as?

Sales & the Law Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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