cheeseman_buslaw7_tif_18

cheeseman_buslaw7_tif_18 - 18 FORMATIONOFSALESANDLEASE...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
1) Article 2 of the UCC applies to transactions in goods. Answer: TRUE Diff: 1 Topic: Scope of Article 2 (Sales) 2) The common law of contracts governs if either Article 2 or Article 2A is silent on the issue. Answer: TRUE Diff: 1 Topic: Scope of Article 2 (Sales) 3) Every state except Louisiana has enacted the UCC as its commercial statute. Answer: TRUE Diff: 1 Topic: Scope of Article 2 (Sales) 4) In order for title to pass from a seller to a buyer, the purchase of the good must be by cash. Answer: FALSE Diff: 2 Topic: Scope of Article 2 (Sales) 5) The UCC applies to contracts for services as well as to contracts for the sale of goods. Answer: FALSE Diff: 1 Topic: Scope of Article 2 (Sales) 6) Sales of stocks and bonds are covered by Article 2 of the UCC. Answer: FALSE Diff: 1 Topic: Scope of Article 2 (Sales) 7) Article 2 of the UCC applies to real estate, because real estate generally has severable things that are goods according to Article 2 of the UCC. Answer: FALSE Diff: 1 Topic: Scope of Article 2 (Sales) 132 FORMATION OF SALES AND LEASE  CONTRACTS 18
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
8) Growing crops that are severable from real estate may be classified as goods and subject to Article 2. Answer: TRUE Diff: 1 Topic: Scope of Article 2 (Sales) 9) A transaction that includes both a goods and a services component will be covered by the UCC so long as the goods are the predominant part of the transaction. Answer: TRUE Diff: 2 Topic: Scope of Article 2 (Sales) 10) A sale involving both goods and services is known as a mixed sale. Answer: TRUE Diff: 1 Topic: Scope of Article 2 (Sales) 11) A party is considered a merchant if that party holds herself out as having special knowledge of the goods involved in the transaction, even if she does not regularly deal in the goods. Answer: TRUE Diff: 2 Topic: Scope of Article 2 (Sales) 12) The UCC applies only to sales between merchants. Answer: FALSE Diff: 2 Topic: Scope of Article 2 (Sales) 13) A party that is a merchant in one transaction is a merchant for all transactions in which he/she is involved. Answer: FALSE Diff: 2 Topic: Scope of Article 2 (Sales) 14) If a homeowner sells a used lawn mower to his neighbor, Article 2 of the UCC does not apply. Answer: FALSE Diff: 2 Topic: Scope of Article 2 (Sales) 133
Background image of page 2
15) The installation of a pacemaker by a hospital is a sale of goods subject to Article 2 of the UCC. Answer: FALSE Diff: 1 Topic: Scope of Article 2 (Sales) 16) A sporting goods dealer is a merchant with respect to golf clubs but not if he sells a wheelbarrow to a neighbor. Answer: TRUE Diff: 1 Topic: Scope of Article 2 (Sales) 17) The lessee is the party who holds himself or herself out as having knowledge or skill peculiar to the goods involved in the transaction. Answer:
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/13/2011 for the course LAW LAW taught by Professor Ricks during the Spring '09 term at Rutgers.

Page1 / 24

cheeseman_buslaw7_tif_18 - 18 FORMATIONOFSALESANDLEASE...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online