A) There is no contract if these terms are omitted.
B) If payment terms are omitted, payment is due at the time and place at which the buyer is to receive the goods, and the place for delivery is the seller's place of business.
C) If payment terms are omitted, payment is due at the time and place at which the buyer is to receive the goods, and the place for delivery is the buyer's place of business.
D) If payment terms are omitted, payment is due at least 10 days prior to the date set for delivery, and the place for delivery is the seller's place of business.
E) If payment terms are omitted, payment is due at least 10 days prior to the date set for delivery, and the place for delivery is the buyer's place of business.
G) A) and E)
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A) Minerals taken from real estate and sold by the owner, soil taken from real estate and sold by the owner, and the right to remove soil from real estate are all considered goods under the UCC.
B) Soil taken from real estate and sold by the owner is considered a good under the UCC, but neither minerals taken from real estate and sold by the owner nor the right to remove soil from real estate are considered goods under the UCC.
C) The right to remove soil from real estate is considered a good under the UCC, but neither minerals taken from real estate and sold by the owner nor soil taken from real estate and sold by the owner are considered goods under the UCC.
D) Minerals taken from real estate and sold by the owner and soil taken from real estate and sold by the owner are considered goods under the UCC, but the right to remove soil from real estate is not considered a good under the UCC.
E) Minerals taken from real estate and sold by the owner and the right to remove soil from real estate are considered goods under the UCC, but soil taken from real estate and sold by the owner is not considered a good under the UCC.
G) C) and E)
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A) statute of frauds
B) final evidence regulation
C) parol evidence rule
D) end evidence rule
E) blindspot rule
G) A) and D)
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A) Unlike the UCC, states can decide whether or not to adopt UCITA.
B) UCITA applies to physical goods, like the UCC.
C) UCITA was adopted by the UCC.
D) In 2001, Virginia became the first state to enact UCITA, probably because major Internet-related companies are headquartered in Northern Virginia.
E) All states have adopted UCITA.
G) D) and E)
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A) The agreement is likely binding because under the UCC, if two merchants have an oral agreement, a written memo from either party to the other is deemed to satisfy the statute of frauds, even if it is not acknowledged by the receiving party. If it is not objected to within 10 days of receipt, the oral agreement, memorialized by the memo, is binding.
B) The agreement is likely binding because under the UCC, if two merchants have an oral agreement, there is no requirement of a writing so long as another witness is willing to confirm that within 10 days of the agreement, one of the parties memorialized the agreement by a memorandum to the file, even if it was not sent to the other party.
C) The agreement is binding because the UCC has no requirement of a writing under any circumstances.
D) The agreement is not binding because Kim never signed anything by which she agreed to the terms of the oral agreement.
E) The agreement is not binding because Lara did not send Kim a registered letter memorializing the oral conversation as is required by the UCC.
G) B) and C)
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A) sale of goods
B) consignment
C) assignment
D) rental
E) lease
G) D) and E)
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A) employers
B) government run businesses
C) regular buyers and sellers
D) state contractors
E) merchant agents
G) C) and D)
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A) The Uniform Commercial Code was created by the National Conference of Commissioners on Uniform State Laws, the American Law Institute, and the U.S. Commercial Consortium.
B) The Uniform Commercial Code was created by the U.S. Commercial Consortium and the National Conference of Commissioners on Uniform State Laws, but not the American Law Institute.
C) The Uniform Commercial Code was created by the National Conference of Commissioners on Uniform State Laws and the American Law Institute, but not the U.S. Commercial Consortium.
D) The Uniform Commercial Code was created by a federal congressional committee.
E) The Uniform Commercial Code was created by state legislative representatives from all 50 states.
G) C) and D)
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The UCC defines merchant as a person who...View Answer
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B) False
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A) The common law rules
B) The civil law rules
C) Federal common law
D) Federal statutory law
E) The Uniform Sales Act
G) A) and D)
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A) That the CISG did not apply because the contract referred to provisions of the UCC and that the statute of frauds contained within the UCC barred enforcement of the contract.
B) That the CISG did not apply because the construction of an arena, which would result in a type of realty, was concerned and that the statute of frauds contained within the UCC barred enforcement of the contract.
C) That the CISG did not apply because significant provisions in the contract were left unwritten but that the statute of frauds was inapplicable.
D) That the CISG applied and that oral discussions could have formed a contract.
E) That the CISG applied and that no contract could have resulted because of the lack of a writing.
G) All of the above
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A) Finance
B) Consumer
C) Regulated
D) Commercial
E) Retail
G) C) and D)
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A) Light bulbs to be placed in a skyscraper.
B) Trees cut from a parcel of land to be turned into paper.
C) A book that has been copyrighted and sold to a bookstore.
D) The copyright of a best-selling novel.
E) A box of hammers, with a value of $499.
G) B) and C)
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B) False
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A) Always.
B) Never.
C) If a firm offer is silent as to time.
D) Only if one of the parties is a nonmerchant.
E) Only if one of the parties lives in Louisiana who does not follow the common law.
G) A) and E)
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A) Puerto Rico
B) Great Britain
C) the District of Columbia and the Virgin Islands
D) Guam
E) Canada and Mexico
G) B) and D)
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A) All terms except price.
B) Payment, delivery, time, but not price or duration.
C) Price, payment, delivery, time, and duration.
D) Delivery, time, and duration, but not price or payment.
E) Time and duration, but not price, payment, or delivery.
G) C) and E)
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A) Israel is a signatory of the CISG.
B) The United States applies the UCC but not the CISG.
C) The United Kingdom is not a signatory of the CISG and instead applies English common law.
D) The CISG is a treaty.
E) Mexico has signed the CISG.
G) C) and D)
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Courts allow the parties to explain or s...View Answer
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