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LENB 3135 Chapter 12: Sales and Lease Law- Questions & Answers
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LENB 3135 Chapter 12: Sales and Lease Law- Questions & Answers
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LENB 3135 Chapter 12: Sales and LeaseLaw- Questions & Answers
Title Warranties Correct Ans-The seller or lessor automatically warrants that he/she has a
good title and that there are no liens or infringements on the property being sold/leased
Express Warranties Correct Ans-Arises when seller/lessor indicated that goods conform to
any of the following
1. an affirmation or promise of fact
2. a description of the goods
3. a sample shown to the buyer or lessee
If the contract does not indicate where the goods will be delivered then the place of delivery
will be one of the following; a) the ______; b) the seller's _____, if the seller has no business
location; c) the ____ of the goods, if both parties know at the time of _____ that the goods are
located somewhere other than the seller's business. Correct Ans-Seller's business location;
Residence; Location; Contracting
Radio Inc. has ordered component parts from Electro Co. deliverable on January 31. On January
28, Electro Co. sends Radio an e-mail clearly stating that the parts cannot be delivered until
February 2. Later in the day on January 28 Radio contracts with another supplier for the parts.
Late on January 29, Electro Co. notifies Radio that it can supply the parts on time after all. Radio
tells Electro not to ship the parts. Has Radio breached the contract?
- Yes, because Electro Co. has retracted its repudiation
- Yes, because Radio should have spoken with Electro Co. before contracting with a new
supplier
- No, Electro could not retract the repudiation more than twenty-four hours later
- No, Electro could not have retracted after Radio contracted with the new supplier Correct
Ans-- No, Electro could not have retracted after Radio contracted with the new supplier
, The three types of title warranties imposed by the Uniform Commercial Code (UCC) are good
title, no liens, and:
-no liabilities.
- no warrants.
- no infringements.
- no encumbrances. Correct Ans-- no infringements.
Sid and Tony enter a contract for a sale of Sid's collection of electric guitars. Before the time for
performance, Sid tells Tony that he does not want to deliver the guitars. Has Tony breached the
contract?
-Yes, under the doctrine of anticipatory repudiation
-Yes, under the doctrine of retraction
- No, because a repudiation may be retracted
-No, because the contract time has not yet expired Correct Ans--Yes, under the doctrine of
anticipatory repudiation
True/False: A contract for the sale of a copyright is subject to Article 2. Correct Ans-False
True/False: To specifically disclaim an implied warranty of merchantability, a seller must
mention the word merchantability. Correct Ans-True
Every sale or lease of goods made by a merchant who deals in goods of the kind sold or leased
automatically gives rise to:
-an implied warranty disclaimer.
- an implied warranty of fitness for a particular purpose.
-an implied warranty from prior dealings or trade custom.
-an implied warranty of merchantability. Correct Ans--an implied warranty of
merchantability.
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