Ch20-TB2-WBL-10e

Ch20-TB2-WBL-10e - Chapter20 TheFormationof...

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Chapter 20 The Formation of Sales and Lease Contracts N.B.:   TYPE  indicates that a question is new, modified, or unchanged, as  follows. N A question  new  to this edition of the Test Bank. + A question  modified  from the previous edition of the Test Bank, = A question  included  in the previous edition of the Test Bank. TRUE/FALSE QUESTIONS 1. Under the UCC, a sale of goods will be considered valid only if the goods are  paid for with money. ANSWER: F PAGE: 383 TYPE: = 2. A copyright is an example of property that does not come under Article 2. ANSWER: T PAGE: 383 TYPE: + 3. The UCC governs sales of services. ANSWER: F PAGE: 384 TYPE: + 4. If a seller is to remove a structure attached to land, the sale of the structure  is treated as one involving goods. ANSWER: T PAGE: 384 TYPE: = 199
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200 TEST BANK 2—UNIT FOUR: DOMESTIC AND INT’L SALES AND LEASE CONTRACTS 5. In a contract in which goods and services are combined, the contract is al- ways considered an agreement for the sale of goods. ANSWER: F PAGE: 384 TYPE: = 6. The UCC does  not  impose different standards on merchants than it imposes  on consumers. ANSWER: F PAGE: 386 TYPE: = 7. Article 2A covers any transaction that creates a lease, but not a sublease, of  goods. ANSWER: F PAGE: 387  TYPE: = 8. Article 2A varies from Article 2 to reflect differences between sale and lease  transactions. ANSWER: T PAGE: 387 TYPE: = 9. A lessor is one who sells the right to the possession and use of goods under  a lease. ANSWER: T PAGE: 387 TYPE: N 10. According to the UCC, one or more open terms will always cause a sales or  lease contract to fail for indefiniteness. ANSWER: F PAGE: 388 TYPE: = 11. If a contract for a sale of goods does not include the delivery date, there is  no basis for enforcing it. ANSWER: F PAGE: 388 TYPE: = 12. If a contract for a sale of goods does not include the quantity, it may still be  enforced if it is a requirements contract. ANSWER: T PAGE: 389 TYPE: = 13. The rules governing firm offers apply to certain merchants only.
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CHAPTER 20: THE FORMATION OF SALES AND LEASE CONTRACTS 201 ANSWER: F PAGE: 389 TYPE: = 14. Under the UCC, an offer to buy goods can be accepted only by a prompt  shipment of the goods. ANSWER: F PAGE: 390 TYPE: = 15. If a sales contract is unilateral, the offeror need not be notified of the of- feree’s performance. ANSWER: F PAGE: 390 TYPE: =
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202 TEST BANK 2—UNIT FOUR: DOMESTIC AND INT’L SALES AND LEASE CONTRACTS 16. All oral contracts are enforceable under the UCC. ANSWER:
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Ch20-TB2-WBL-10e - Chapter20 TheFormationof...

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