FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 11: Contracts and Sales: Introduction and Formation

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 41

True/False

Review LaterAdd Note

Review Later

Under the UCC,an acceptance followed by additional terms is a counteroffer and a rejection.

Correct Answer

verified

Show Answer

Question 42

Multiple Choice

Review LaterAdd Note

Review Later

Which of the following is $\underline{\text{not}}$ required for a valid UCC offer?

A) quantity
B) payment terms
C) subject matter
D) both b and c
E) a, b, and c

Correct Answer

verified

Show Answer

Question 43

Multiple Choice

Review LaterAdd Note

Which of the following is not a violation of the ECOA?

Under common law,a counteroffer is also a rejection.

The following series of events occurred between Bull's Meat Market and The Butcher:? May 1 - The Butcher faxes Bull's and offers to buy 200 lbs.of T-bone steak at $3.29 per lb. May 2 - Bull's faxes back: "Price is okay.Payment prior to delivery."?Bull's and The Butcher:

The CISG follows the mirror image rule in formation.

A three-year warranty on an oven need be evidenced by a record to be enforceable.

Evaluate the following facts and then answer the following questions: Day 1 $\quad$$\quad$ S sends a letter to B with the following: "I will sell you my Play Station 3 for $150 when I get my new Play Station." Day 2 $\quad$$\quad$ B receives the letter and responds,"I will take the Play Station for $150." -The communication between S and B must be evidenced by a record if any rights related to the exchange can be enforced.

Which of the following is $\underline{\text{not}}$ a risk associated with international contracting?

Contracts for services are governed by the UCC.

Void and voidable contracts are one and the same.

The Uniform Electronic Transaction Act (UETA) :

John: "I will sell you my laptop computer for $330."?Mary: "Will you include the carrying case"??John: "Sold."

The UCC Battle of the Forms provision allows additional terms in an acceptance without invalidating the acceptance.

Under the UCC and between nonmerchants,additional terms in acceptance:

Trevor Jones accepted a summer internship with Hailey & Thomas,a management consulting firm.The negotiations and offer were all oral.Hailey & Thomas' managing partner did send a letter with the following language:??Welcome to Hailey & Thomas.We are looking forward to working with you.When you arrive in New York,please call me so that we may help you locate lodging for the summer. -Is there a contract?

Which of these can be a valid contract agreement under ESIGN?

Implied contracts are unenforceable.

The following exchange took place in a series of e-mails between Mitchell Raines and Leslie Carroll: Mitchell: I am looking at the Trek bike advertised on your website for $650.00.Would you take $600.00? Leslie: I would take $600 if there were no delivery required.?Mitchell: Well,I have to have it delivered because you are two states away.?Leslie: Well,then if there has to be delivery,I could do it for $630.00.?Mitchell: Is that cash??Leslie: Yes.

Evaluate the following facts and then answer the following questions: Day 1 $\quad$ $\quad$ S sends a letter to B with the following: “I will sell you my Play Station 3 for $150.” Day 2 $\quad$ $\quad$ B receives the letter and responds, “I will take the Play Station for $150, but include 3 games.” -B has made a valid acceptance.