Question 1

is defined by the UCC as any practice that members of an industry expect to be part of their dealings.

Accepted Answer

A)  Anticipated trade dealing
B)  Course of dealing
C)  Usage of trade
D)  Trade norm
E)  Course of performanceF) B) and D)
G) B) and C)

Question 2

Under which exception to the UCC's perfect tender rule is Yolanda able to provide the dolls with facial flaws without violating the perfect tender rule?

Accepted Answer

A)  Usage of trade
B)  Course of performance
C)  Course of dealing
D)  Commercially impracticable
E)  Destroyed goodsF) All of the above
G) A) and B)

Question 3

Which statement is correct regarding any right of inspection for lessees?

Accepted Answer

A)  The UCC provides for a right of inspection in regard to fragile items for lessees,but not otherwise.
B)  The UCC provides for a right of inspection if the lessor and lessee have previously had disputes in regard to shipments,but not otherwise.
C)  The UCC provides for no right of inspection for lessees,and the right of inspection is only available to the lessor if it is provided for by contract.
D)  The UCC provides for a right of inspection in regard to perishable items for lessees,but not otherwise.
E)  The UCC provides for a right of inspection for lessees.F) A) and E)
G) A) and D)

Question 4

Under the UCC,buyers and lessees are obligated to accept and pay for conforming goods in accordance with the contract.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following are goods that conform to contract specifications?

Accepted Answer

A)  Conforming goods
B)  Superior goods
C)  Reasonable goods
D)  Adequate goods
E)  Transforming goodsF) B) and E)
G) B) and C)

Question 6

Which statement is correct regarding the UCC and norms in the industry?

Accepted Answer

A)  The UCC requires that courts consider norms in a particular trade only if goods with a unit price of over $500 are involved.
B)  The UCC allows courts to consider norms in a particular trade only if the perfect tender rule has been satisfied.
C)  The UCC requires that courts consider norms in a particular trade only if consumer goods are involved.
D)  The UCC requires that courts consider norms in a particular trade.
E)  The UCC does not require that courts consider norms in a particular trade.F) A) and C)
G) None of the above

Question 7

On December 6,RoboCo delivers a shipment of 100 of the RoboMan electronic toy.Unfortunately,on inspection,each unit has a faulty battery pack.The performance time under the contract ends on the 8th.Under which circumstances would RoboCo property exercise its right to cure?

Accepted Answer

A)  RoboCo's president emails the Buyer that 100 of the RoboMan electronic toy will be sent within two weeks.
B)  RoboCo's president e-mails the buyer stating they intend to cure and send 100 of the ElectroMan toy the following day.
C)  The following day,RoboCo delivers a shipment of 100 of the ElectroMan electronic toy.
D)  RoboCo's president calls the Buyer and asks when the RoboCo toys are needed.After a response that they are needed for a sale on the 15th,RoboCo sends a new shipment of RoboMan,which arrives on the 10th.
E)  RoboCo immediately sends a shipment of functional battery packs for RoboMan which arrives the next day.F) A) and D)
G) A) and C)

Question 8

Under the UCC,nondelivery is not a breach of contract in circumstances in which performance has been made impracticable because a contingency has occurred that was not contemplated when the parties reached an agreement.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following states that when a contract for sale involves repeated occasions for performance by either party with the other's knowledge of the nature of the performance and opportunity for objection to it,any course of performance accepted or acquiesced to without objection is relevant to determine what the parties' agreement means?

Accepted Answer

A)  Usage of trade
B)  Trade norm
C)  Course of performance
D)  Course of dealing
E)  Anticipated trade dealingF) A) and B)
G) A) and C)

Question 10

Sometimes language in the parties' agreement limits the rigidity of the perfect tender rule.

Accepted Answer

A) True 
 B)False

Exam 23: Performance and Obligations Under Sales and Leases

On December 6,RoboCo delivers a shipment of 100 of the RoboMan electronic toy.Unfortunately,on inspection,each unit has a faulty battery pack.The performance time under the contract ends on the 8th.Under which circumstances would RoboCo property exercise its right to cure?

Correct Answer
verified

Under which exception to the UCC's perfect tender rule is Yolanda able to provide the dolls with facial flaws without violating the perfect tender rule?

Correct Answer
verified

Sometimes language in the parties' agreement limits the rigidity of the perfect tender rule.

Correct Answer
verified

Correct Answer
verified

Which statement is correct regarding the UCC and norms in the industry?

Correct Answer
verified

Which of the following are goods that conform to contract specifications?

Correct Answer
verified

Under the UCC,nondelivery is not a breach of contract in circumstances in which performance has been made impracticable because a contingency has occurred that was not contemplated when the parties reached an agreement.

Correct Answer
verified

Under the UCC,buyers and lessees are obligated to accept and pay for conforming goods in accordance with the contract.

Correct Answer
verified

is defined by the UCC as any practice that members of an industry expect to be part of their dealings.

Correct Answer
verified

Which statement is correct regarding any right of inspection for lessees?

Correct Answer
verified

Exam 23: Performance and Obligations Under Sales and Leases

On December 6,RoboCo delivers a shipment of 100 of the RoboMan electronic toy.Unfortunately,on inspection,each unit has a faulty battery pack.The performance time under the contract ends on the 8th.Under which circumstances would RoboCo property exercise its right to cure?

Correct AnswerverifiedShow Answer

Under which exception to the UCC's perfect tender rule is Yolanda able to provide the dolls with facial flaws without violating the perfect tender rule?

Correct AnswerverifiedShow Answer

Sometimes language in the parties' agreement limits the rigidity of the perfect tender rule.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which statement is correct regarding the UCC and norms in the industry?

Correct AnswerverifiedShow Answer

Which of the following are goods that conform to contract specifications?

Correct AnswerverifiedShow Answer

Under the UCC,nondelivery is not a breach of contract in circumstances in which performance has been made impracticable because a contingency has occurred that was not contemplated when the parties reached an agreement.

Correct AnswerverifiedShow Answer

Under the UCC,buyers and lessees are obligated to accept and pay for conforming goods in accordance with the contract.

Correct AnswerverifiedShow Answer

is defined by the UCC as any practice that members of an industry expect to be part of their dealings.

Correct AnswerverifiedShow Answer

Which statement is correct regarding any right of inspection for lessees?

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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