Sales
Are oral sales contracts enforceable in court?
A. Yes
B. No
A. Yes
True or False: New terms are considered proposals.
True
All are examples of goods EXCEPT
A. Food
B. Clothing
C. Land
D. Books
C. Land
Define Barter
An exchange of goods for goods
Are all adhesion contracts unconscionable?
No, but the majority are.
To initiate a contract of sale, the ______ must transfer or agree to transfer the property in the goods to the _____.
A. government; White House
B. buyer; seller
C. parent company;
D. seller; buyer
D. seller; buyer
What are the two types of merchants?
A. Wholesale and Retail Merchants
B. Librarians and Teachers
C. Auto and Business Merchants
D. Jewelers and Casual Sellers
A. Wholesale and Retail Merchants
What is the uniformity of law?
The essential for the interstate transactions of business.
Define a merchant
A seller who deals regularly in a particular type of goods/claims special knowledge in a certain type of sales transaction
Do unconscionable contracts usually lack consideration and capacity?
Yes
What is a sale?
A sale is a contract in which ownership of goods transfers from the seller to a buyer for a price.
What is the difference between a merchant and a casual seller?
A merchant is someone who deals regularly in the sales of goods, but a casual seller doesn't specialize in the business of selling.
What is the purpose of the UCC?
To regulate sales of personal property and other business transactions.
Define Ownership
A collection of rights that allow the use and enjoyment of property
True or False: There are generally no standardized criteria for determining unconscionability as it is a subjective judgment by the judge.
True
Additions to sales offers do not count as a _______, but a _______.
A. Proposal; Counteroffer
B. Counteroffer; Proposal
C. Contract; New term
D. New term; Proposal
B. Counteroffer; Proposal
What is the receipt for goods being shipped, received, and indicating agreement that the goods will be transported to the specified destination?
A. A Bill of Sale
B. A Bill of Rights
C. A Bill of Lading
D. A Bill of Exchange
C. A Bill of Lading
Can a court refuse to enforce an entire contract that it finds to be unconscionable?
A. Yes
B. No
A. Yes
Define Non-conforming goods
Goods a seller provides that do not meet the buyer's specifications or are defective in some way
What must a court decide when dealing with an unconscionable contract? (One example)
Possible answers:
Refuse to enforce the contract
Enforce the contract without the unconscionable clause
Limit the clause’s application so that the contract is no longer unfair
What is one exception of the Statute of Frauds?
Possible answers-
Goods received and accepted by the buyer
Buyer pays for goods and sellers accepts payment
Good specially made not suitable for sale to others
Party against whom enforcement sought admits oral contract made
When the seller fails to deliver goods, the right of the buyer to buy similar goods elsewhere to substitute for those not delivered by the seller is called a(n)_____.
A. act of replacement
B. cover
C. trade-in
D. accommodation
B. cover
Define a Contract of Adhesion
When one party dictates all important terms and leaves the buyer with a take-it-or-leave-it option
Define Unconscionable contract
A grossly unfair contract for the sale of goods
A. Fair
B. Common sense
C. Misrepresentation
D. Bargaining
C. Misrepresentation