17 - NR275.BUS.241.35.SP11 - ( [Spring 2011] BUS 241-35:...

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NR275.BUS.241.35.SP11 - ([Spring 2011] BUS 241-35: Business Law I) Assignments ... Module 4 Practice Test Review Test Submission: Module 4 Practice Test Review Test Submission: Module 4 Practice Test User Kristen M Ritch Submitted 3/5/11 5:18 PM Name Module 4 Practice Test Status Completed Score 0 out of 100 points Time Elapsed 6 seconds out of 2 hours and Instructions Question 1 A bailee is a buyer or lessee. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 2 The UCC imposes the same rules of conduct on all parties in all circumstances. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 3 Omni Corporation is a Pennsylvania-based firm that does business throughout the United States. With respect to this circumstance, the UCC has been adopted by, and applies in, Selected Answer: [None Given] Correct Answer: all of the states, in whole or in part. 0 out of 2 points Question 4 Bild-Rite, Inc., is a Colorado-based firm that does business with clients throughout North America. Bild-Rite oversees construction projects, and buys and sells commercial buildings, undeveloped land, and construction supplies and other goods. Bild-Rite has had to deal with work-site theft and vandalism. With respect to these circumstances, the Uniform Commercial Code (UCC) provides a framework for Selected Answer: [None Given] Correct Answer: commercial transactions for the sale of and payment for goods. 0 out of 2 points Question 5 A seller with void title can transfer good title to a good faith purchaser for value. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points NR275.BUS.241.35.SP ([Spring 2011] BUS 241-35: Business Law I) Announcements Assignments Course Documents Discussion Board My Grades Communication Tools Resources
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Question 6 Under the UCC, an oral contract for a sale of goods is enforceable unless payment has been made and accepted. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 7 Tasty Pastries, Inc., and other bakers refer to a "baker's dozen" as consisting of a collection of thirteen baked goods. This is an example of Selected Answer: [None Given] Correct Answer: usage of trade. 0 out of 2 points Question 8 Uri sells 100 cases of vitamins to Wanda, but before she takes physical possession, the cases are lost. Under the UCC, the parties' rights and obligations with respect to the loss depend on the concept of Selected Answer: [None Given] Correct Answer: risk of loss. 0 out of 2 points Question 9 Over the course of a year, Retail Marketers, Inc., sells goods from its inventory and one of its warehouses. In exchange, Retail receives checks and other items that substitute for cash, which Retail uses to repay a loan from Savings Bank. Article 2 of the UCC governs Selected Answer: [None Given] Correct Answer: the sale of the goods. 0 out of 2 points
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17 - NR275.BUS.241.35.SP11 - ( [Spring 2011] BUS 241-35:...

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