BLAW Final Exam Questions & Answers Verified 100% Correct!!
1 view 0 purchase
Course
BLAW
Institution
BLAW
Clayton Act Section 2 (includes amendments by the Robinson-Patman Act of 1936) -
️️Declares illegal price discrimination between different buyers of goods of like
grade and quality where the effect may be to lessen competition or tend to create a
monopoly in any line of commerce.
statutes o...
BLAW Final Exam
Clayton Act Section 2 (includes amendments by the Robinson-Patman Act of 1936) -
✔️✔️Declares illegal price discrimination between different buyers of goods of like
grade and quality where the effect may be to lessen competition or tend to create a
monopoly in any line of commerce.
statutes of frauds (law of sales) - ✔️✔️writing must include quantity term.
specially manufactured goods.
confirmation by merchants.
delivery or payment and acceptance.
admissions
Consideration - ✔️✔️A modification of a contract for the sale of goods does not require
consideration.
Requirement under the Statute of Frauds - ✔️✔️1. all contracts for the sale of goods
priced at $500 or more must be in writing.
2. exceptions:
a. when written confirmation of an oral contract between merchants is not objected to in
writing by the receiver within 10 days.
b. when the oral contract is for specially manufactured goods not suitable for resale to
others, and the seller has substantially started to manufacture the goods.
c. when the defendant admits in pleadings, testimony, or other court proceedings that
an oral contract for the sale of goods was made. In this case the contract will be
enforceable to the quantity of goods admitted.
d. when payment has been made and accepted under the terms of an oral contract. The
oral agreement will be enforceable to the extent that goods have been received and
accepted.
How is an Express Warranty created? - ✔️✔️as a part of a sale or bargain, a seller
may create an express warranty by -
1. an affirmation of fact or promise.
2. a sale by description.
3. a sample shown as conforming to bulk.
When is a writing sufficient? - ✔️✔️as long as it indicates a contract between the
parties and it is signed by the party against whom enforcement is sought. A contract is
not enforceable beyond the quantity shown in the writing
, Patrol Evidence - ✔️✔️1. The terms of a clearly and completely worded written contract
cannot be contradicted by oral or other evidence.
2. Patrol evidence is admissible to clarify the terms of a writing:a. if the contract terms
are ambiguous.
b. if the evidence of course of dealing, usage of trade, or course of performance is
necessary to learn or to clarify the intentions of the parties to the contract.
Unconscionability - ✔️✔️an unconscionable contract is one that is so unfair and one
sided that it would be unreasonable to enforce it. if the court deems a contract to be
unconscionable at the time it was made, the court can 1) refuse to enforce the contract;
2) refuse to enforce the unconscionable clause of the contract; or 3) limit the application
of any unconscionable clauses to avoid an unconscionable result.
Offer and Acceptance - ✔️✔️1. the acceptance of unilateral offers can be made by a
promise to ship or by shipment itself.
2. not all terms have to be included for a contract to result.
3. particulars of performance can be left open.
4. Firm written offers made by a MERCHANT, the duration of which is 3 months or less,
cannot be revoked.
5. Acceptance by performance requires notice within a reasonable time; otherwise, the
offer can be treated as lapsed.
6. The price does not have to be included to have a contract.
7. variations in terms between the offer and the acceptance may not be a rejection but
may be an acceptance.
8. acceptance may be made by any reasonable means of communication; it is effective
when dispatched.
Possible defenses of an Express warranty - ✔️✔️1. statement that is purported to
create warranty was an option.2. specific language or conduct negated or limited
warranty.
How is an Implied warranty of merchantability created? - ✔️✔️The warranty arises
when the seller is a merchant who deals in goods of the kind sold.
Possible defenses of an implied warranty of merchantability - ✔️✔️1. warranty was
specifically disclaimed (disclaimer can be oral or in writing but must mention
merchantability and must be conspicuous).
2. sale was stated to be "as is" or "with all faults".
3. The buyer examined the goods and is therefore bound by all defects that were found
or should have been found. If the buyer refused or failed to examine, the buyer is bound
by obvious defects.
4. course of dealing, performance, or usage of trade.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICMATERIALS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
