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108. Under the UCC, oral testimony:
a. may contradict written documents
b. may never be used
c. may be used if the goods are not worth more than $10,000
d. may be used to explain trade dealings
e. may be used only if both parties agree
109. Under the UCC, oral testimony:
a. may contradict written documents
b. may never be used
c. may be used if the goods are not worth more than $10,000
d. may only be used if both parties agree
e. none of the other choices are correct
110. Under the UCC, parol evidence may not be used:
a. "if the court finds the writing to have been intended also as a complete and exclusive statement of the terms
of the agreement"
b. "if the court does not find the writing to have been intended also as a complete and exclusive statement of
the terms of the agreement"
c. "if the court cannot find the writing to have been intended also as a complete and exclusive statement of the
terms of the agreement"
d. if both parties do not agree
e. if there is an unwritten contract between the parties
111. Under the UCC, parol evidence may not be used:
a. if there is an unwritten contract between the parties
b. "if the court does not find the writing to have been intended also as a complete and exclusive statement of
the terms of the agreement"
c. "if the court cannot find the writing to have been intended also as a complete and exclusive statement of the
terms of the agreement"
d. if both parties do not agree
e. none of the other choices are correct
112. If, when considering a contract under the UCC, the court needs to resolve a term that is not clearly specified, the
courts prefer to look to:
a. past dealings of the party
b. equitable resolutions
c. Department of Commerce data
d. reliance damages
e. none of the other choices
113. In Griffith v. Clear Lakes Trout, Griffith grew trout for Clear Lakes; the parties got into a dispute over what were
"market size" trout, as Clear Lakes wanted larger fish. The court held that:
a. since the contract between the parties was vague about trout size, there was no enforceable contract
b. Clear Lakes was correct about trade usage regarding "market size" so Griffith had an obligation to grow
larger fish and be in compliance with the contract
c. Clear Lakes was incorrect about trade usage regarding "market size" so Griffith had no an obligation to grow
larger fish to be in compliance with the contract
d. Clear Lakes had underpaid for the trout given current market prices, so owed Griffith damages equal to the
market price versus the price paid
e. none of the other choices
114. In Griffith v. Clear Lakes Trout, Griffith grew trout for Clear Lakes; the parties got into a dispute over what were
"market size" trout, as Clear Lakes wanted larger fish. The court held that:
a. since the contract between the parties was vague about trout size, there was no enforceable contract
b. Clear Lakes was correct about trade usage regarding "market size" so Griffith had an obligation to grow
larger fish and be in compliance with the contract
c. Clear Lakes was correct about trade usage regarding "market size" and Griffith had been delivering
undersized fish, so Griffith needed to compensate Clear Lakes for the price change
d. Clear Lakes had underpaid for the trout given current market prices, so owed Griffith damages equal to the
market price versus the price paid
e. none of the other choices
115. In Griffith v. Clear Lakes Trout, Griffith grew trout for Clear Lakes; the parties got into a dispute over what were
"market size" trout, as Clear Lakes wanted larger fish. The court held that:
a. since both parties had agreed for 3 years that "market size" was 12 to 16 ounces, Clear Lakes was liable for
breach of contract when it tried to change the definition of "market size"
b. since there was no written definition of "market size," Clear Lakes was not liable for breach of contract
c. since there was a written contract specifying "market size" as 12 to 16 ounces, Clear Lakes was liable for
breach of contract
d. Griffith did not have a case because there was never a contract between the parties
e. the parties' previous dealings were insufficient to show agreement
116. In Griffith v. Clear Lakes Trout, Griffith grew trout for Clear Lakes; the parties got into a dispute over what were
"market size" trout, as Clear Lakes wanted larger fish. The court held that:
a. the parties' previous dealings were insufficient to show agreement
b. since there was no written definition of "market size," Clear Lakes was not liable for breach of contract
c. since there was a written contract specifying "market size" as 12 to 16 ounces, Clear Lakes was liable for
breach of contract
d. Griffith did not have a case because there was never a contract between the parties
e. none of the other choices are correct
117. If a price is unclear when a contract is found to exist, the UCC directs the courts to:
a. determine "a realistic price"
b. determine "a reasonable price"
c. determine who should have to pay the price
d. determine who should have known the price
e. determine a fair way to set the price
118. If a price is unclear when a contract is found to exist, the UCC directs the courts to:
a. determine "a realistic price"
b. determine a fair way to set the price
c. determine who should have to pay the price
d. determine who should have known the price
e. none of the other choices are correct
119. When a court must determine a price for a contract under the UCC, they look to:
a. fair market value
b. usual business practices
c. a reasonable price
d. all of the other specific choices may be used
e. none of the other choices; such contract is invalid
120. If parties to a contract involving a sale of goods fail to specify price, and if there is dispute, so that a court must
determine the price, under the UCC the price will be:
a. a reasonable price
b. the price that the plaintiff specifies
c. the price that the defendant specifies
d. the price that a court-appointed arbitrator specifies
e. no price; there never was a contract so the parties simply stop dealing with each other
121. If parties to a contract involving a sale of goods fail to specify price, and if there is dispute, so that a court must
determine the price, under the UCC the price will be:
a. no price, as there will be no contract in such a situation
b. the price that the plaintiff specifies
c. the price that the defendant specifies
d. the price that a court-appointed arbitrator determines
e. none of the other choices
122. A "reasonable price":
a. may or may not be "fair market value"
b. must be "fair market value" under the UCC
c. is never "fair market value"
d. is arbitrary
e. is determined by a formula specified by UCC Article 2
123. A "reasonable price":
a. is determined by a formula specified by UCC Article 2
b. is always "fair market value"
c. is never "fair market value"
d. is completely arbitrary
e. none of the other choices are correct
124. A(n) is when a buyer agrees to take all of the output of a certain seller.
a. output contract
b. input contract
c. requirements contract
d. total contract
e. complete sale contract
125. A(n) is when a buyer agrees to take all of the output of a certain seller.
a. complete sale contract
b. input contract
c. requirements contract
d. total contract
e. none of the choices are correct
126. When a buyer has agreed to purchase the total output of a seller, there is a(n):
a. requirements contract
b. fulfillment contract
c. output contract
d. totality contract
e. such contracts are not allowed under the UCC
127. When a buyer has agreed to purchase the total output of a seller, there is a:
a. requirements contract
b. fulfillment contract
c. totality contract
d. such contracts are not allowed under the UCC
e. none of the other choices
128. A(n) is one in which a seller agrees to provide all of a certain good that a buyer needs.
a. requirements contract
b. real contract
c. output contract
d. total sale contract
e. complete supply contract
129. A(n) is one in which a seller agrees to provide all of a certain good that a buyer needs.
a. complete supply contract
b. real contract
c. output contract
d. total sale contract
e. none of the other choices are correct
130. When a seller has agreed to supply all of the needs of a buyer, there is a:
a. requirements contract
b. fulfillment contract
c. output contract
d. totality contract
e. such contracts are not allowed under the UCC
131. When a seller has agreed to supply all of the needs of a buyer, there is a(n):
a. totality contract
b. fulfillment contract
c. output contract
d. such contracts are not allowed under the UCC
e. none of the other choices
132. Under the UCC Article 2, a "reasonable time" for delivery of a good is determined by:
a. trade custom
b. the apparent intentions of the parties
c. the availability of transportation services
d. all of the other specific choices are correct
e. none of the other specific choices are correct
133. If a contract for the sale of goods does not specify where goods are to be delivered, the UCC presumes that in
most cases:
a. delivery is at the seller's place of business
b. delivery to the buyer's place of business
c. delivery is to the closest railroad or trucking station
d. delivery is to a common carrier
e. delivery is to the buyer's agent
134. If a contract for the sale of goods does not specify where goods are to be delivered, the UCC presumes that in
most cases:
a. delivery is to the buyer's agent
b. delivery to the buyer's place of business
c. delivery is to the closest railroad or trucking station
d. delivery is to a common carrier
e. none of the other choices
135. A buyer ordered custom made equipment. The delivery date was not set, but the seller promised to do the job in a
reasonable time. When the equipment was not ready when the buyer hoped, the buyer cancelled the order. The
seller demanded payment. You would expect the court to hold that:
a. failure to deliver by the delivery date expected by the buyer was a breach of contract, so nothing was owed
by the buyer
b. because UCC 2-207(b) states that special terms are to be specified in the contract, as was the case with this
order, the seller was in breach for not fixing a delivery date
c. no delivery date was fixed, but the seller worked on the equipment and so will be paid for the work done up
to time of cancellation
d. no delivery date was specified by the buyer, so he had no right to cancel the order and is liable for all costs
plus lost profits
e. the breach was done with malice, so punitive damages could be added to the compensatory damages
136. The seller's basic obligation under the UCC is to:
a. ensure the buyer does not lose money
b. transfer and deliver goods that conform to the contract to the buyer
c. represent the goods properly
d. refrain from swindling unsuspecting buyers
e. arrange all elements of the transaction and deal with any problems that arise
137. The seller's basic obligation under the UCC is to:
a. ensure the buyer does not lose money
b. arrange all elements of the transaction and deal with any problems that arise
c. represent the goods properly
d. refrain from swindling unsuspecting buyers
e. none of the other choices are correct
138. Under the UCC, the seller's basic obligation includes being concerned with:
a. the appropriate manner of delivery
b. the timeliness of delivery
c. the place of delivery
d. the quality of the goods provided
e. all of the other specific choices are correct
139. Under the UCC, the seller's basic obligation includes being concerned with:
a. what the goods are used for after they leave the seller's possession
b. the future financial solvency of the buyer
c. the financing of the purchase
d. all of the other specific choices are correct
e. none of the other specific choices are correct
140. Under the UCC, the seller's basic obligation includes being concerned with:
a. what the goods are used for after they leave the seller's possession
b. the future financial solvency of the buyer
c. the place of delivery
d. all of the other specific choices are correct
e. none of the other specific choices are correct
141. Under the UCC, the seller's basic obligation includes being concerned with:
a. what the goods are used for after they leave the seller's possession
b. the future financial solvency of the buyer
c. the quality of the goods provided
d. all of the other specific choices are correct
e. none of the other specific choices are correct
142. Under the UCC, the seller's basic obligation includes being concerned with:
a. what the goods are used for after they leave the seller's possession
b. the future financial solvency of the buyer
c. the appropriate manner of delivery
d. all of the other specific choices are correct
e. none of the other specific choices are correct
143. Under the UCC, the seller's basic obligation includes being concerned with:
a. what the goods are used for after they leave the seller's possession
b. the future financial solvency of the buyer
c. the timeliness of delivery
d. all of the other specific choices are correct
e. none of the other specific choices are correct
144. The seller's basic obligation under the UCC does not include:
a. financing the purchase of conforming goods
b. transferring conforming goods
c. delivering conforming goods
d. none of the other specific choices are required unless specifically bargained for
e. all of the other specific choices are required
145. The proper tender of goods to, and their acceptance by, the buyer entitles the seller:
a. to be paid at least 50% of the total amount specified in the contract
b. to be paid according to the contract
c. to be paid no later than one year after the proper tender of the goods
d. nothing
e. the right to reject the contract
146. The proper tender of goods to, and their acceptance by, the buyer entitles the seller:
a. to be paid at least 50% of the total amount specified in the contract
b. the right to reject the contract
c. to be paid no later than one year after the proper tender of the goods
d. nothing
e. none of the other choices are correct
147. is a valid and sufficient offer of performance under a contract.
a. Tender
b. Sale
c. Completion
d. Delivery
e. Termination
148. is a valid and sufficient offer of performance under a contract.
a. Termination
b. Sale
c. Completion
d. Delivery
e. none of the other choices are correct
149. Tender is:
a. a proper initiation of a contract
b. failure to provide a sufficient offer of performance under a contract
c. a valid and sufficient offer of performance under a contract
d. a type of contract
e. a contact that allows the offeree to terminate the contract at any point
150. Tender is:
a. a proper initiation of a contract
b. failure to provide a sufficient offer of performance under a contract
c. a contact that allows the offeree to terminate the contract at any point
d. a type of contract
e. none of the other choices are correct
151. Under the common law, there is a doctrine called the perfect tender rule. It means the seller's tender of delivery is
required to conform in detail to the agreement between the parties. The UCC restates the perfect tender rule,
holding that if the goods or the tender of delivery fail in any respect to conform to the contract, the buyer may:
a. reject the whole shipment
b. accept the whole shipment
c. accept any commercial unit or units and reject the rest
d. none of the other choices; in practice the UCC rule is the same as the common law rule
e. the other specific choices together state the UCC's tender rule
152. Under the the seller must tender the quality, quantity, and delivery method exactly as specified in the contract
or the buyer has the right to reject the goods and rescind the contract.
a. fine tender rule
b. perfect tender rule
c. ultimate tender rule
d. common law tender rule
e. exact tender rule
153. Under the the seller must tender the quality, quantity, and delivery method exactly as specified in the contract
or the buyer has the right to reject the goods and rescind the contract.
a. fine tender rule
b. exact tender rule
c. ultimate tender rule
d. common law tender rule
e. none of the other choices are correct
154. The UCC modifies the common law perfect tender rule by:
a. allowing the seller to deliver only half the agreed upon shipment
b. not allowing the buyer to sue the seller
c. not allowing the buyer to accept less than the entire shipment
d. allowing the buyer to accept less than the entire shipment
e. allowing the buyer to sue the seller
155. The UCC modifies the common law perfect tender rule by:
a. allowing the seller to deliver only half the agreed upon shipment
b. not allowing the buyer to sue the seller
c. not allowing the buyer to accept less than the entire shipment
d. allowing the buyer to sue the seller
e. none of the other choices are correct
156. Under the UCC a buyer who receives good that are nonconforming:
a. may reject them and withhold payment
b. may cancel the contract and recover from the seller any prepayments
c. must notify the seller of a rejection in a timely manner to allow the seller to either cure the non-conformities
or reclaim the goods
d. all of the other specific choices
e. none of the other choices
157. If a buyer rejects a shipment of goods as not conforming, the seller has the right to cure the defect, except for
which of the following:
a. the seller repairs or replaces the defective goods within the time for performance
b. the seller notifies the buyer in a timely manner of the intent to cure the defect
c. the time for performance has not passed
d. the seller is due a "reasonable time" for repair or performance past the original due date
e. all of the other choices are part of the seller's right to cure
158. If a buyer rejects a shipment of goods as not conforming, the seller has the right to cure the defect, which includes
which condition(s):
a. the seller repairs or replaces the defective goods within the time for performance
b. the seller notifies the buyer in a timely manner of the intent to cure the defect
c. the time for performance has not passed
d. none of the other choices
e. all of the other specific choices
159. A seller's right to cure an improper tender of goods protects sellers from:
a. buyers rejecting shipments based on minor problems when the price of the good is falling
b. buyers demanding larger shipments
c. buyers failing to pay in a timely manner
d. buyers suing for breach of contract
e. buyers defaulting on loans
160. A seller's right to cure an improper tender of goods protects sellers from:
a. buyers defaulting on loans
b. buyers demanding larger shipments
c. buyers failing to pay in a timely manner
d. buyers suing for breach of contract
e. none of the other choices are correct
161. Ramirez contracted to buy a new truck. On the delivery date, the truck was not ready. After it was delivered, the
truck had many problems that could not be fixed. Ramirez wanted to rescind the contract but the seller wanted
more chances to repair. The court likely found:
a. the seller because a seller must be given time beyond delivery to allow defects to be cured
b. the seller because it had no reason to anticipate the defects from the factory (producer), so it could have
time to cure the defects
c. Ramirez; the problems should have been fixed, so the seller's right to further efforts to cure defects was lost
d. Ramirez; he had the right to reject goods with any defects at any time
e. none of the other choices
162. With respect to the buyer's basic obligations under Article 2, the most critical element is:
a. the appropriate manner and timeliness of delivery
b. the place of tender from the seller
c. the quality of tender
d. accept conforming goods and pay for them according to the contract
e. none of the other choices
163. With respect to the buyer's basic obligations under Article 2, the most critical element is:
a. the appropriate manner and timeliness of delivery
b. the place of tender from the seller
c. the quality of tender
d. accept goods of "adequate" quality
e. none of the other choices
