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LEB 320F All Exam Questions and Answers 100% Solved | Graded A+ Which of the following transactions would not be within the scope of Article 2 of the UCC? a. A leasing contract for an apartment. b. Buying a car. c. Buying a cell phone. d. A contract to buy coal. - A. (A lease for an apartmen...

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  • September 26, 2024
  • 108
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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LEB 320F All Exam Questions and

Answers 100% Solved | Graded A+


Which of the following transactions would not be within the scope of Article

2 of the UCC?

a. A leasing contract for an apartment.

b. Buying a car.

c. Buying a cell phone.

d. A contract to buy coal. - ✔✔A. (A lease for an apartment is not within the

scope of Article 2 of the UCC because it is not a contract for tangible,

movable goods.)

A baseball team may avoid negligence liability by having an exculpatory

clause on the back of game tickets relieving them of liability to fans struck

by foul balls. - ✔✔True. (Although exculpatory clauses are often found to

be against public policy, they are usually enforced for recreational

activities.)

A claim arising out of the Americans with disabilities act, which is a Federal

statute, would be a Federal Question case and, therefore, be within a

,federal district court's jurisdiction. - ✔✔True. (Any case that arises out of a

federal statute, such as the Americans with disabilities act, can be brought

in a Federal District court.)

A company can be charged with copyright infringement for simply providing

the means to the actual infringer to commit the infringement. - ✔✔True.

(This is called secondary infringement.)

A composition agreement generally involves one creditor accepting a

percentage of what he is owed from two separate debtors. - ✔✔False. (A

composition agreement generally involves two creditors accepting a portion

of what they are owed from a single debtor. This is considered binding

because, in order to receive any money from the debtor, both creditors

accept only a portion of what they are owed.)

A contract between a Texas corporation and a California corporation,

containing a provision that all litigation regarding the contract will be

performed in Maine. The contract was signed in New York. What state's

law should apply under the traditional view?

a. Texas

b. California

c. New York

,d. Maine - ✔✔c. (The traditional view is to apply the law of the state in

which the contract was made. Because the contract was signed in New

York, New York's law should apply.)

A contract calling for an action that does not violate a statute can still be

found to lack a legal purpose. - ✔✔True. (Even if an action does not have a

criminal penalty or otherwise violate a statute, a contract for said action can

be considered illegal because the action is contrary to a state's public

policy.)

A contract for the sale of corn is not considered a sale of goods, for the

purposes of Article 2, if the corn will be severed from the land by the buyer.

- ✔✔False. (Under § 2-107 of the UCC, a contract for the sale of growing

crops or timber is a contract for the sale of goods, regardless who is to

sever them from the land.)

A contract involving a loan will be considered void if the interest rate agreed

upon is above state regulations. - ✔✔True. (If interest rates of a loan are

above prescribed state maximums, the contract is considered usury and

invalid.)

A contract may be modified without additional consideration under common

law. - ✔✔False. (A modification contract— a contract that alters the terms

, of an existing contract—typically requires some new consideration in order

to be enforceable.)

A contract may be set aside due to unequal bargaining power in certain

circumstances. - ✔✔True. (please add why if you had this question)

A contract may sometimes be rescinded if only one party is mistaken as to

a portion of the contract. - ✔✔True. (A contract may be rescinded due to a

unilateral mistake if the mistake was apparent, or should have been, to the

other party.)

A contract of adhesion is one in which there is a certain amount of

bargaining between the parties used to decide the exact details of the

contract. - ✔✔False. (A contract of adhesion is one in which one party has

such superior bargaining power it simply offers a "take it or leave it"

contract. This is usually a form contract offered by a merchant.)

A contract requiring that an illegal action take place is a voidable contract. -

✔✔False. (A contract requiring an illegal act is considered a void contract.)

A contract that takes more than one year to complete doesn't necessarily

need to be in writing in order to satisfy the statute of frauds. - ✔✔True.

(please add why if you had this question)

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