Exam (elaborations)

BLAW CH 11 Exam Questions With Correct Answers

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BLAW CH 11 Exam Questions With Correct Answers Article 2 - answer134. ____ of the Uniform Commercial Code governs the law of commercial sales. a. Article 1 b. Article 2 c. Article 3 d. Article 4 e. Article 5 goods - answer136. Article 2 of the UCC covers the sale of: a. goods b. services...

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blaw ch 11 exam questions with correct answers

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EXAM STUDY MATERIALS 8/7/2024 11:29 AM

BLAW CH 11 Exam Questions With
Correct Answers

Article 2 - answer✔✔134. ____ of the Uniform Commercial Code governs the law of
commercial sales.
a. Article 1
b. Article 2
c. Article 3
d. Article 4
e. Article 5

goods - answer✔✔136. Article 2 of the UCC covers the sale of:
a. goods
b. services
c. investment securities
d. goods and business

different rules developed across the states - answer✔✔138. Early sales law was governed by
state law. This created a significant legal challenge for
managers because:
a. Article 2 of the UCC was unclear
b. it forced managers to write sales agreements with many terms left open
c. different rules developed across the states
d. it required a new sales agreement each time a new order was placed

date back thousands of years - answer✔✔139. Commercial codes:
a. date back thousands of years

, EXAM STUDY MATERIALS 8/7/2024 11:29 AM

b. began in England in the early 1800s to use in the British empire
c. were started by the United Nations in the 1950s
d. were started by the World Trade Organization in the 1980s

49 states - answer✔✔144. UCC Article 2 has been adopted:
a. by Congress
b. by 31 states
c. by 49 states
d. by all 50 states

Louisiana - answer✔✔145. Every state except ____ has adopted UCC Article 2.
a. Texas
b. Illinois
c. Alabama
d. Louisiana
e. Florida
the benefits of lowering the costs of doing business across state lines was so great -
answer✔✔149. Most states accept the UCC's provisions on most topics because:
a. the benefits of lowering the costs of doing business across state lines was so great
b. the federal government gave them no choice
c. the European Union required consistency in U.S. sales law to encourage trade
d. national unity is very important to all states
e. there were a lot of federal tax breaks associated with accepting the UCC

to simplify, clarify and modernize the law governing commercial transaction - answer✔✔151.
The UCC's purpose is:
a. to give each state a unique set of trade laws
b. to mediate international business disputes
c. to simplify, clarify and modernize the law governing commercial transactions
d. to reduce taxes
e. to make it easier to prosecute parties who breach contracts`

, EXAM STUDY MATERIALS 8/7/2024 11:29 AM

a load of wheat - answer✔✔155. Contracts under Article 2 of the UCC could include:
a. a house
b. a patent
c. a bank account
d. a load of wheat
e. all of the other choices

land - answer✔✔158. The UCC's Article 2 does not cover the sale of:
a. land
b. furniture
c. a load of corn
d. a computer sold to a business
e. a truck load of printer paper
all things which are moveable at the time of identification to the contract for sale -
answer✔✔160. The UCC defines goods as:
a. all things which are moveable at the time of identification to the contract for sale
b. all services which are relevant at the time of identification to the contract for sale
c. any item that a seller offers to a buyer
d. the combination of the items and services listed in the contract
e. all the items listed in the contract and their related services

it is movable and tangible - answer✔✔162. The subject matter of a sales contract is not
considered a good under Article 2 unless:
a. it is real and visible
b. it is movable and tangible
c. it is ephemeral and tangible
d. it is diaphanous and
movable
e. it is movable and intangible

can be seen and touched - answer✔✔166. A good is tangible if it:

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