BUL 5810 CH. 21 TEST QUESTIONS WITH ALL ANSWERS REVISED AND UPDATED
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Module
BUL 5810 CH. 21
Institution
BUL 5810 CH. 21
BUL 5810 CH. 21 TEST QUESTIONS WITH ALL ANSWERS REVISED AND UPDATED
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 ...
BUL 5810 CH. 21 TEST QUESTIONS
WITH ALL ANSWERS REVISED AND
UPDATED
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
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