19 - 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 5:20 PM Name Module 4 Practice Test Status Completed Score 0 out of 100 points Time Elapsed 10 seconds out of 2 hours and Instructions Question 1 Natural Foods, Inc., orders "Grade A" oil from Olive Grove Farms to process and sell to Pic 'N Pay Grocers. Olive Grove ships "Grade B" oil, which Natural Foods accepts. To recover damages for the nonconformity, Natural Foods must give notice of the breach within a reasonable time to Selected Answer: [None Given] Correct Answer: Olive Grove only. 0 out of 2 points Question 2 Hi-Tech Company contracts to sell fiber optic cable to Internet Services, Inc. Hi-Tech may bring an action to recover the purchase price and incidental damages if Internet Selected Answer: [None Given] Correct Answer: accepts the cable but does not pay for it. 0 out of 2 points Question 3 If a buyer repudiates a contract, the seller cannot recover damages. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 4 If the parties to a sales contract state that a certain remedy is exclusive, then it is the sole remedy. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 5 Craft Engineering, Inc., contracts for a sale of technical instruments to Detail Design Company. Before the date on which performance is due, Craft notifies Detail that it will not perform. This is Selected Answer: [None Given] Correct Answer: anticipatory repudiation. 0 out of 2 points Question 6 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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Loni and Myra enter into a contract for a sale of clarinets and other wind instruments. Loni delivers, but Myra does not pay. Loni can normally recover as damages the difference between Selected Answer: [None Given] Correct Answer: the contract price and the market price. Question 7 Screen Perfect, Inc., and TV Stores enter into a contract for a sale of high-definition television sets. Screen Perfect ships goods that do not exactly conform to the contract in some details. TV Stores Selected Answer: [None Given] Correct Answer: can reject the entire shipment. 0 out of 2 points Question 8 In contracts involving a carrier, a seller can complete performance only through a destination contract. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 9 If a buyer breaches a contract and the seller resells the goods to another party, the seller cannot recover any loss from the breaching buyer. Selected Answer:
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This note was uploaded on 03/16/2011 for the course BUS 241 taught by Professor Green during the Spring '11 term at New River Community College.

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

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