Gabe has agreed to buy Sarits's car, but the two have not agreed on the price. When
there is no agreement as to price in a contract for a sale of goods, what effect does it
have on the contract? - Answer The price is a reasonable price at the time of delivery
Brown & Co enters into a contract wi...
BUL 5810 CH. 21 Test with Solutions to
Questions
Gabe has agreed to buy Sarits's car, but the two have not agreed on the price. When
there is no agreement as to price in a contract for a sale of goods, what effect does it
have on the contract? - Answer The price is a reasonable price at the time of delivery
Brown & Co enters into a contract with ATM Industries for the sale of 1,000 shirts at $6
per shirt. In order for Brown & Co to successfully sue ATM industries in the event of a
breach of the agreement, all of the following are required except:
a. a written agreement indicating that a sale or contract to sell has been made.
b. the price of the goods.
c. the quantity of the goods involved in the transaction.
d. the signature of the defendant. - Answer The price of the goods
Bob telephoned the office supply store and agreed to buy 90 reams of paper at $5 each.
He then realized what a good buy this was and called the store with a request to modify
the contract to read 200 reams of paper. What is the consequence? - Answer The
modified contract is unenforceable
Laura orally agrees to buy 50 smartphones from Smartphones, Inc. for $25,000.
Smartphones delivers 25 smartphones to Laura, who receives and accepts them. Which
of the following is correct with regard to this transaction? - Answer The contract is
enforceable to the extent of the 25 machines that have been received and accepted.
, Mary's Cupcake Shop bakes and sells various types of cupcakes. In remodeling the office
areas of its business, Mary's Cupcake Shop purchased tile from the Tile Shop, Inc. Under
the Uniform Commercial Code, Mary's Cupcake Shop is a merchant of: - Answer
cupcakes, but not carpet.
Mary's Cupcake Shop bakes and sells various types of cupcakes. On July 5, Billy's Grocery
Company orally agreed to buy 2,000 cupcakes from Mary's for $1,000. On July 10,
Mary's sent Billy's a written confirmation of the cupcake sale. Billy's received the letter
on July 12, filed it, but did not respond. On July 28, Mary's shipped the cupcakes to
Billy's Grocery Company and the cupcakes arrived on July 29. Billy's refused to accept
delivery and Mary sued. Under the Uniform Commercial Code: - Answer The contract is
enforceable because Billy did not object to the confirmation within ten days.
Solomon pays Henry's Bike Shop $150 for a bicycle. This is an example of a: - Answer
sale
In the Carter v. Tokai Financial Services, Inc. case, the main issue is: - Answer The
agreement was found to be a true finance lease
In the case of Pittsley v. Houser, the issue of the case is: - Answer Whether the UCC
applies to the transaction
In the case of Construction Associates, Inc. v. Fargo Water Equipment Co., the issue of
the case is: - Answer Whether the limitation of liability clause was unenforceable.
Does the United Nations Convention on Contracts for the International Sale of Goods
(CISG) apply to the contract between Onyx Advertising and Jalapenos Unlimited? -
Answer Yes, because the CISG applies to commercial sales of goods between two states
that have ratified the treaty.
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