BLAW20 - Chapter 20 The Formation of Sales and Lease Contracts MULTIPLE CHOICE QUESTIONS A1 Bild-Rite Inc is a Colorado-based firm that does

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Chapter 20 The Formation of Sales and Lease Contracts MULTIPLE CHOICE QUESTIONS A1. 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 a. commercial transactions for the sale of and payment for goods. b. international construction contracts. c. domestic and foreign transactions in real estate. d. prosecuting crimes against business interests. B1. Stardust Coffee Company is a Texas-based firm that does business throughout the world. Stardust manages retail and wholesale operations, buys and sells commercial venues, undeveloped land, and coffee beans, and other goods. Stardust has had to deal with employee and customer theft. With respect to these circumstances, the Uniform Commercial Code (UCC) provides a framework for a. commercial transactions for the sale of and payment for goods. b. international distribution agreements. c. domestic and foreign transactions in real estate. d. prosecuting crimes against business interests. A2. 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, a. a few of the states. b. all of the states, in whole or in part. c. half of the states.
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d. none of the states, to date. B2. High n’ Mighty Mart, Inc., is an Illinois-based firm that does business throughout the United States. With respect to this circumstance, the UCC has been adopted by, and applies in, a. all of the states, in whole or in part. b. most of the states on the Atlantic and Pacific coasts. c. none of the states, to date. d. only the states on the Mississippi, Missouri, and Ohio Rivers. A3. 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 a. the checks. b. the payment of the loan. c. the sale of the buildings. d. the sale of the goods.
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B3. Over the course of a year, Real Deal Corporation sells appliances to customers to whom it extends credit. Real Deal orders the appliances from Superior Appliance Company’s warehouse, from which the items are shipped via common carrier to Real Deal’s customers. Article 2 of the UCC governs a. all of the parties’ sales of the goods. b.
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This note was uploaded on 09/13/2011 for the course BLAW 4203 taught by Professor Farguson during the Spring '11 term at LSU.

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BLAW20 - Chapter 20 The Formation of Sales and Lease Contracts MULTIPLE CHOICE QUESTIONS A1 Bild-Rite Inc is a Colorado-based firm that does

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