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Chapter 8 Sales Contracts questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating
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Chapter 8 Sales Contracts questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating

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  • August 5, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • chapter 8 sales contracts questions and correct an

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  • Commercial Construction
  • Commercial Construction

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Chapter 8 Sales Contracts
A breach of warranty occurs when either or both of the express and implied warranties
have been found to be false. - ANS-What is a breach of warranty?

A good is a tangible item "which are movable at the time of identification to the contract
for sale." - ANS-What is the definition of a good?

A sales contract is a specific type of contract in which one party is obligated to deliver
and transfer ownership of a good to a second party, who in turn is obligated to pay for
the good in money, or its equivalent - ANS-What is a sales contract?

A shipment contract occurs when it is the responsibility of the seller to make the
shipping arrangements and to transfer the goods to the common carrier. Under this
contract, title passes to the buyer at the time of shipment, so the buyer bears the risk of
loss, even when he or she has not taken possession of the goods. A destination
contract occurs when the seller is required to deliver the goods to a location that is
stipulated in the contract. Under this contract, title transfers when the goods are
delivered, but the seller bears the risk of loss until that time - ANS-Distinguish a
shipment contract from a destination contract

A warranty is a guarantee on the good that comes as part of the sales contract, but.
contract law treats warranties as an additional form of contract that binds the selling
party to undertake a certain action - ANS-What is a warranty in a sales contract?

An express warranty is one in which the seller explicitly guarantees the quality of the
good or service sold. Typically, the vendor provides a statement, or other binding
document, as part of the sales contract. In certain circumstances where no express
warranty was made, the law implies a warranty. This statement means that the warranty
automatically arises from the fact that a sale was made. - ANS-Describe the difference
between an express and implied warranty.

b. the uniform commercial code - ANS-What source of law governs sales contracts?
a. Common Law
b. The Uniform Commercial Code
c. Statutory Law
d. Federal Law

c. cumulative - ANS-All of the following are features of sales contracts except:

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