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Exam 15: Formation of Sales and Lease Contracts

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Question 1

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Freedom of contract is a basic principle of the UCC. Consequently, its provisions are not mandatory.

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Question 2

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The UCC defines goods as tangible ____________________ property.

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Jacobson Wholesale Company and Kutner, the owner of a retail men's store, signed a written contract under which Jacobson was to sell 300 boxes of hosiery to Kutner at $5 per box. Jacobson sent the hosiery, and Kutner paid the $1,500. Jacobson sued Kutner for an additional $900 and at the trial offered evidence that shortly before signing the contract, Kutner had orally agreed to pay an additional $3 per box. The court held the evidence inadmissible. The principle that best justifies the legal decision in this case is that

Under Article 2 of the UCC, a firm offer will be created only if the

An oral contract can be enforced only for the quantity of goods actually received and accepted by the buyer.

Darien, Inc. orally contracted to manufacture 1,500 square yards of carpet specially designed for American Health's offices. The agreed price was $40 per square yard. When the carpeting was completed, American Health refused to accept it, claiming that it was not bound by the oral contract. Is American Health correct?

Under the UCC, a merchant is a person who is

A(n) ____________________ is a contract in which ownership and title to goods passes from seller to buyer for a price.

Gerber, a Georgia merchant who sells toys, placed a telephone order for fifteen dozen toy computers from NCE, a wholesaler of toys in Cleveland, Ohio. NCE sent Gerber a signed invoice for the toy order (written confirmation) , giving details of their oral agreement. The oral (telephone) contract will be enforceable

Arnold who worked for the Clean Corporation sold vacuum cleaners house to house. He called on Anna, a single mother on welfare with five children. Convinced by Arnold's sales presentation Anna signed a sales contract to purchase a vacuum cleaner. While the contract stated the price of $600 payable in weekly installments, there were hidden charges (fine print) covering insurance and a service contract for one year bringing the total to $900. After paying in $300, a neighbor pointed out the hidden charges to Anna who then stopped payments at the suggestion of Legal Aid under the theory of

____________________ is a group of laws governing business transactions.

Under Article 2 of the UCC when is a party to a sales contract considered a merchant?

What is the significance of the seller sending conforming goods to the buyer?

Under the UCC, between merchants, any additional terms added to the acceptance of an offer

____________________ evidence can be presented in court to give meaning or add clarity to unclear language in a contract.

Money bought and sold as a commodity is included in the definition of goods.

The UCC makes a distinction between a professional and an occasional seller.

With the advent of contracts being formed online, why has the need for the mailbox rule which a majority of the courts uphold under the common law of contracts become obsolete?

An oral sales contract for goods costing $500 will be enforced

Blacklaw in a signed letter to Ekis made the following request (offer) : "Ship promptly 100 dozen of the new light saver type light bulbs." This offer