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Question 261 out of 1 pointsThe stated purpose(s) of Article 2 of the UCC is/are:Question 271 out of 1 pointsTo simplify, clarify, and modernize the law governing commercial transactions, the UCC permits the use of "open terms" in sales contracts. In the use of "open terms," which of the following is true?Question 281 out of 1 pointsTu-thumbs buys a used paint sprayer from the local paint store. The sprayer had a large sign on it which said "AS IS." The dealer made no promises or statements concerning the performance of the paint sprayer. When Tu-thumbs attempts to spray paint his house, the trigger on the sprayer sticks in the "on" position and before Tu-thumbs can pull the electrical cord to cut the power, paint is sprayed all over his prize Borzoi dog that is scheduled to be shown in a dog show the next day. Tu-thumbs sues the dealership. Who wins?Question 290 out of 1 points
WorkfileContents.docxUCC Section 2-204 provides three important rules that enable parties to make a contract quickly and informally. These include all but which of the following?Question 301 out of 1 pointsUncle Brandon promises to give his motorcycle to you at the end of the month. This transaction is governed by UCC, Article 2, because a motorcycle is within the definition of “goods.”Question 311 out of 1 pointsUnder the "perfect tender rule" the buyer may reject the goods if they fail in any respect to conform to the contract.Question 320 out of 1 pointsUnder the UCC statute of frauds, the writing for a sale of goods must:Question 331 out of 1 pointsUnder the UCC, a merchant is frequently held to a higher standard of conduct than a non-merchant.Question 340 out of 1 pointsUnder the UCC, the seller's right to correct a shipment of non-conforming goods is called:Question 351 out of 1 pointsWayne agrees over the phone to sell L.J. Cartwright 1,000 yards of 1-inch diameter rope. Wayne honestly believes that L.J. Cartwright offered to pay $1.00 per yard whereas L.J.Cartwright actually offered to pay 75 cents per yard. If the parties subsequently take their dispute to court, the fact that L.J.Cartwright admits on the stand that he offered to pay Wayne 75 cents per yard will:
WorkfileContents.docxQuestion 361 out of 1 pointsWhich of the following is an example of a purchase money security interest in consumer goods?Question 370 out of 1 pointsWhich of the following is correct concerning termination statements?Question 381 out of 1 pointsWhich of the following is true regarding an open price term?Question 391 out of 1 pointsWhich of the following warranties provides that the goods will be useable for the ordinary purposes for which they are used?Question 401 out of 1 pointsWhich one of the following warranties arises in a sale of goods?