A) Kristin is incorrect.
B) Kristin is correct only if she can establish that Solid Wood Furniture itself failed to act in good faith.
C) Kristin is correct in this instance because while the UCC generally imposes a duty of good faith,that duty is inapplicable in relation to third-party financing.
D) Kristin is correct only if she can establish that the goods were overpriced resulting in the right to disregard any obligation of Solid Wood.
E) Kristin is correct in this instance because while the UCC generally imposes a duty of good faith,that duty is inapplicable during the initial 30 days after a purchase when a buyer has the right to revoke acceptance for a good or a bad reason.
G) D) and E)
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A) For any reason within 7 days of acceptance.
B) Only if the buyer had a legitimate reason for the initial acceptance.
C) For any reason within 30 days of acceptance.
D) For any reason within 24 hours of acceptance.
E) For any reason within 48 hours of acceptance.
G) B) and C)
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A) Solid Wood is incorrect because the UCC mandated duty of good faith requires honesty in fact in regard to all transactions regardless of the parties involved.
B) Solid Wood is incorrect because the UCC mandated duty of good faith imposes a higher duty than honesty in fact on merchants,that of reasonable commercial standards of fair dealing.
C) Solid Wood is incorrect because the UCC mandated duty of good faith imposes a higher duty than honesty of fact in transactions involving amounts in excess of $500,that of reasonable conduct considering all circumstances.
D) Solid Wood is incorrect because the UCC mandated duty of good faith imposes a higher duty than honesty of fact in regard to sellers,that of reasonable negotiation considering the position of buyers.
E) Solid Wood is incorrect because the UCC imposes no duty of good faith.
G) All of the above
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A) Solid Wood is correct only if Solid Wood can show that the goods were priced at reasonable market value.
B) Solid Wood is incorrect only if Kristin can show that the goods were overpriced.
C) Solid Wood is correct.
D) Solid Wood is incorrect because under the UCC Kristin had 30 days in which to reject the goods.
E) Solid Wood is incorrect only if Kristin can establish that Let Us Help You miscalculated the amount of interest she owed.
G) All of the above
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B) False
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A) Commercial unreasonableness
B) Unreasonable bride
C) Commercial impracticability
D) Substantial hardship
E) Unforeseen circumstances
G) B) and D)
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A) Anticipated trade dealing
B) Usage of trade
C) Trade norm
D) Course of dealing
E) Course of performance
G) None of the above
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Student responses will vary.In favor of ...View Answer
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A) Federal court,but not state court
B) Courts and the U.S.Congress
C) Courts,the U.S.Congress,and the UCC drafters
D) Courts and UCC drafters
E) The U.S.Congress and UCC drafters
G) B) and D)
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A) That the seller was entitled to rely on the common law doctrine of material breach,that the seller substantially performed,and that the buyer was in breach.
B) That by not shipping the logs in a timely manner according to the contract,the seller failed to satisfy the perfect tender rule thereby releasing the defendant buyer from its duty to accept the logs.
C) That the seller was entitled to rely on the common law doctrine of material breach but that the seller did not substantially perform thereby releasing the buyer from contractual duties.
D) That the seller was entitled to rely on the perfect tender rule and that the buyer materially breached the contract by refusing to accept the logs.
E) That the seller satisfied the perfect tender rule although the logs were late and that the defendant buyer breached the contract by refusing to accept the logs.
G) B) and E)
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B) False
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The UCC requires good faith in the perfo...View Answer
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A) That the issue of whether a reasonable time for inspection of goods has passed is generally a question of law for the judge,not the jury,to decide.
B) That an effective acceptance is not made unless the buyer affirmatively notifies the seller in writing that the goods were conforming.
C) That an effective acceptance is not made unless the buyer affirmatively notifies the seller orally or in writing that the goods while not conforming were acceptable with appropriate deductions.
D) That a failure to reject results in liability not only for the contractual price,but also for damages suffered as a result.
E) That an effective acceptance is not made unless the buyer affirmatively notifies the seller in writing that the goods while not conforming were acceptable with appropriate deductions.
G) A) and E)
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A) The right to inspect is frequently waived by the buyer's conduct.
B) The right to inspect is seldom waived or held by courts to have been waived unless the buyer expressly waives the right.
C) The right to inspect is often waived by the buyer's conduct and frequently held by courts to have been waived by the buyer's conduct.
D) The right to inspect is often held by courts to have been waived.
E) Buyers often expressly waive their right to inspect.
G) A) and C)
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A) She has no defense because he was only one day late,and she should pay.
B) That Marco beans were not that good and that she decided to go with another brand.
C) That Marco violated the perfect tender rule.
D) That Marco failed to materially perform.
E) That Marco failed to substantially perform.
G) A) and E)
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A) She cannot provide conforming goods under the contract.
B) She has the right to cure by providing lizards that are not imported.
C) Commercial impracticability
D) Perfect tender rule
E) Commercial illegality
G) B) and D)
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A) In relation to the perfect tender rule,the UCC requires that courts consider course of performance.
B) In relation to the perfect tender rule,sometimes norms for a particular trade do not permit a buyer to reject goods with minor flaws.
C) In relation to the perfect tender rule,the UCC requires that courts consider course of dealing.
D) The perfect tender rule is satisfied when material elements of a contract are satisfied even if some nonmaterial elements may not be satisfied.
E) Parties may by contractual language limit the rigidity of the perfect tender rule.
G) A) and C)
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A) The seller has 30 days in which to cure.
B) The seller has 10 days in which to cure.
C) The seller has 7 days in which to cure.
D) The parties are excused from performance.
E) The seller has 45 days in which to cure.
G) None of the above
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A) Yes,because the delivery must comply with contract specifications.
B) Probably not,because the course of performance of this contract creates an exception to the perfect tender rule.
C) Probably not,because the usage of trade exception is inapplicable.
D) Yes,under the perfect tender rule,the seller must conform to the specifications of the contract.
E) Probably not,because the course of dealings between the parties creates an exception to the perfect tender rule.
G) None of the above
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A) The lessee may make a partial acceptance when goods are nonconforming and the lessor has failed to cure the defects,but a buyer may not make a partial acceptance.
B) The buyer or lessee may make a partial acceptance when goods are nonconforming and the seller or lessor has failed to cure the defects.
C) The buyer may make a partial acceptance when goods are nonconforming and the seller has failed to cure the defects,but a lessee may not make a partial acceptance.
D) Buyers and lessees may make partial acceptances at any time.
E) Neither buyers nor lessees may make partial acceptances because either the whole must be accepted or rejected.
G) C) and D)
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