20-22-23 sample quiz questions

20-22-23 sample quiz questions - Chapter 20 1. Bild-Rite,...

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Unformatted text preview: Chapter 20 1. Bild-Rite, Inc., is a Colorado-based firm that does busines with clients throughout North America. Bild-Rite oversees construction projects, and buys and sel s 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 busines interests. 2. Omni Corporation is a Pen sylvania-based firm that does busines 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. al of the states, in whole or in part. c. half of the states. d. none of the states, to date. 3. Over the course of a year, Retail Marketers, Inc., sel s 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. 4. Nemo pays Of ice Supply Company $1,500 for a laptop computer. Under the UCC, this is a. a gift. b. a lease. c. a sale. d. not a gift, a lease, or a sale. 5. In a dispute over a sale involving a bicycle, Dain argues that as to this deal El es Hobby Shop, where Dain bought the bike, is a merchant. A court may determine whether El es is a merchant by as es ing whether a. it has sold any bikes within the last year. b. it holds itself out by oc upation as having knowledge or skil unique to the bike in the transaction. c. its owner enjoys biking. d. it subscribes to Bike, a biweekly trade magazine. 6. Cleo sel s kitchen appliances, and oc asional y cleaning supplies, to persons who come into her store, Discount Appliances. One afternoon, Cleo sel s a used display shelf to Earl. Under the UCC, Cleo is a merchant of a. cleaning supplies and kitchen appliances only. b. cleaning supplies, display shelves, and kitchen appliances. c. cleaning supplies only. d. kitchen appliances only. 7. Ral y Corporation enters into a contract to sel ski gear to SnoSportz Company, which sel s a pair of the skis to Tyra, a consumer, who later sel s them to Uli, another consumer. Article 2 of the UCC applies to the sales transactions between a. al of the buyers and sel ers. b. Ral y and SnoSportz only. c. SnoSportz and Tyra only. d. Tyra and Uli only. 8. Curtis enters into a contract with Drive-Away Lease Company for a three-year lease of a car. This contract is subject to a. Article 2 of UCC....
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20-22-23 sample quiz questions - Chapter 20 1. Bild-Rite,...

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