Question 1

Unconscionable contracts may&#10;A)be overly harsh.&#10;B)lack meaningful choice.&#10;C)be too lopsided.&#10;D)all of the above.

Accepted Answer

Unconscionable contracts may be overly harsh, lack meaningful choice, or be too lopsided. Therefore, the correct answer is D, all of the above.

Question 2

Article 2A deals with lease transactions.

Accepted Answer

Article 2A of the Uniform Commercial Code (UCC) explicitly deals with lease transactions.

Question 3

Under the Uniform Commercial Code, a contract cannot be formed if terms are missing.

Accepted Answer

Under the Uniform Commercial Code, a contract can still be formed even if some terms are missing. The missing terms can be filled in by default rules or through the course of dealing between the parties.

Question 4

Article 2 of the Uniform Commercial Code deals with which of the following?&#10;A)Leases&#10;B)Stocks&#10;C)Sales&#10;D)Secured transactions

Accepted Answer

The answer of Article 2 of the Uniform Commercial Code...

Question 5

The Uniform Commercial Code has ______ new articles.&#10;A)six&#10;B)two&#10;C)four&#10;D)three

Accepted Answer

The Uniform Commercial Code (UCC) has been updated over time, but as of the last major revision, it consists of nine articles. There are not specifically "new" articles mentioned in the question without a timeframe, but historically, the UCC did not add exactly six, four, or three new articles in a single revision. The phrasing of the question suggests looking for a factual update or addition, and without specifying a particular revision or update timeline, it's challenging to pinpoint new articles without more context. However, traditionally, the UCC has been known to have nine articles, not adding new ones in the sense of a recent update without specifying the context of the timeframe or revision. This question might be misleading or based on outdated or incorrect information.

Question 6

The Uniform Commercial Code has only nine articles.

Accepted Answer

The Uniform Commercial Code (UCC) consists of eleven articles, not nine, covering various aspects of commercial transactions.

Question 7

Under Article 2, contracts for sale of goods over $500 must be in writing.

Accepted Answer

According to the Statute of Frauds, contracts for the sale of goods over $500 must be in writing to be enforceable.

Question 8

Which of the following was substantially changed under the Uniform Commercial Code?&#10;A)Mirror Image Rule&#10;B)Mailbox Rule&#10;C)Parol Evidence Rule&#10;D)Statute of Frauds

Accepted Answer

The Uniform Commercial Code (UCC) modified the Mirror Image Rule by allowing for some variance in acceptance terms, unlike the strict common law requirement for identical terms.

Question 9

Parol evidence can be used to explain which of the following?&#10;A)Course of dealing&#10;B)Usage of trade&#10;C)Course of performance&#10;D)All of the above

Accepted Answer

Parol evidence can be used to explain all of the above - course of dealing, usage of trade, and course of performance.

Question 10

The Statute of Frauds does not require a writing for which of the following?&#10;A)Specially manufactured goods&#10;B)Goods over $500&#10;C)Goods between merchants&#10;D)None of the above

Accepted Answer

The Statute of Frauds requires a writing for contracts for goods over $500, contracts that cannot be performed within one year, contracts involving the transfer of an interest in land, contracts made in consideration of marriage, and contracts for the sale of goods. However, there is an exception for specially manufactured goods, which are goods that are specially made for the buyer and are not suitable for sale to others in the ordinary course of the seller's business.

Question 11

Article 2A has been adopted by ______ states.&#10;A)all&#10;B)some&#10;C)ten&#10;D)twenty-one

Accepted Answer

The answer of Article 2A has been adopted by ______...

Question 12

Contracts providing that a seller will sell to the buyer all goods the seller produces are _____ contracts.&#10;A)requirement&#10;B)output&#10;C)executed&#10;D)contingent

Accepted Answer

The answer of Contracts providing that a seller will sell...

Question 13

Article 2 of the Uniform Commercial Code deals with the sale of goods.

Accepted Answer

The answer of Article 2 of the Uniform Commercial Code...

Question 14

Under Article 2, the rules for offer and acceptance have been substantially relaxed.

Accepted Answer

The answer of Under Article 2, the rules for offer...

Question 15

To fall under the parameters of the Uniform Commercial Code, a sale may take place&#160; only between two merchant sellers.

Accepted Answer

The answer of To fall under the parameters of the...

Question 16

Course of dealing can be used to explain or clarify a contract.

Accepted Answer

The answer of Course of dealing can be used to...

Question 17

Article 2A regulates transactions between&#10;A)offeror and offeree&#10;B)obligor and obligee&#10;C)lessor and lessee&#10;D)promisor and promisee

Accepted Answer

The answer of Article 2A regulates transactions between&#10;A)offeror and offeree&#10;B)obligor...

Question 18

An offer can be a '&#34;firm offer&#34; even without consideration under Article 2.

Accepted Answer

The answer of An offer can be a '&#34;firm offer&#34;...

Question 19

The Uniform Commercial Code has not been adopted in whole or in part by all 50 states.

Accepted Answer

The answer of The Uniform Commercial Code has not been...

Question 20

Additional consistent terms still form a contract if&#10;A)the party does not object&#10;B)the terms do not materially alter&#10;C)all of the above&#10;D)none of the above

Accepted Answer

The answer of Additional consistent terms still form a contract...

Question 21

Match between columns&#10;                        Premises: Person who provides a product or good.&#10;Person who provides a product or good.&#10;Person who provides a product or good.&#10;Person who provides a product or good.&#10;Person who provides a product or good.&#10;Person who provides a product or good.&#10;Person who provides a product or good.&#10;Person who provides a product or good.&#10;Person who provides a product or good.&#10;Person who provides a product or good.&#10;An offer that cannot be revoked for a reasonable time period.&#10;An offer that cannot be revoked for a reasonable time period.&#10;An offer that cannot be revoked for a reasonable time period.&#10;An offer that cannot be revoked for a reasonable time period.&#10;An offer that cannot be revoked for a reasonable time period.&#10;An offer that cannot be revoked for a reasonable time period.&#10;An offer that cannot be revoked for a reasonable time period.&#10;An offer that cannot be revoked for a reasonable time period.&#10;An offer that cannot be revoked for a reasonable time period.&#10;An offer that cannot be revoked for a reasonable time period.&#10;Person who purchases a good or product.&#10;Person who purchases a good or product.&#10;Person who purchases a good or product.&#10;Person who purchases a good or product.&#10;Person who purchases a good or product.&#10;Person who purchases a good or product.&#10;Person who purchases a good or product.&#10;Person who purchases a good or product.&#10;Person who purchases a good or product.&#10;Person who purchases a good or product.&#10;The passing of title from a seller to a buyer for a price.&#10;The passing of title from a seller to a buyer for a price.&#10;The passing of title from a seller to a buyer for a price.&#10;The passing of title from a seller to a buyer for a price.&#10;The passing of title from a seller to a buyer for a price.&#10;The passing of title from a seller to a buyer for a price.&#10;The passing of title from a seller to a buyer for a price.&#10;The passing of title from a seller to a buyer for a price.&#10;The passing of title from a seller to a buyer for a price.&#10;The passing of title from a seller to a buyer for a price.&#10;Lack of meaningful choice in a contract.&#10;Lack of meaningful choice in a contract.&#10;Lack of meaningful choice in a contract.&#10;Lack of meaningful choice in a contract.&#10;Lack of meaningful choice in a contract.&#10;Lack of meaningful choice in a contract.&#10;Lack of meaningful choice in a contract.&#10;Lack of meaningful choice in a contract.&#10;Lack of meaningful choice in a contract.&#10;Lack of meaningful choice in a contract.&#10;A contract for &#34;as much as we need.&#34;&#10;A contract for &#34;as much as we need.&#34;&#10;A contract for &#34;as much as we need.&#34;&#10;A contract for &#34;as much as we need.&#34;&#10;A contract for &#34;as much as we need.&#34;&#10;A contract for &#34;as much as we need.&#34;&#10;A contract for &#34;as much as we need.&#34;&#10;A contract for &#34;as much as we need.&#34;&#10;A contract for &#34;as much as we need.&#34;&#10;A contract for &#34;as much as we need.&#34;&#10;A transfer of the right of possession and use of goods for term.&#10;A transfer of the right of possession and use of goods for term.&#10;A transfer of the right of possession and use of goods for term.&#10;A transfer of the right of possession and use of goods for term.&#10;A transfer of the right of possession and use of goods for term.&#10;A transfer of the right of possession and use of goods for term.&#10;A transfer of the right of possession and use of goods for term.&#10;A transfer of the right of possession and use of goods for term.&#10;A transfer of the right of possession and use of goods for term.&#10;A transfer of the right of possession and use of goods for term.&#10;Things that are moveable at the time of identification of the contract.&#10;Things that are moveable at the time of identification of the contract.&#10;Things that are moveable at the time of identification of the contract.&#10;Things that are moveable at the time of identification of the contract.&#10;Things that are moveable at the time of identification of the contract.&#10;Things that are moveable at the time of identification of the contract.&#10;Things that are moveable at the time of identification of the contract.&#10;Things that are moveable at the time of identification of the contract.&#10;Things that are moveable at the time of identification of the contract.&#10;Things that are moveable at the time of identification of the contract.&#10;A contract for &#34;all goods we produce.&#34;&#10;A contract for &#34;all goods we produce.&#34;&#10;A contract for &#34;all goods we produce.&#34;&#10;A contract for &#34;all goods we produce.&#34;&#10;A contract for &#34;all goods we produce.&#34;&#10;A contract for &#34;all goods we produce.&#34;&#10;A contract for &#34;all goods we produce.&#34;&#10;A contract for &#34;all goods we produce.&#34;&#10;A contract for &#34;all goods we produce.&#34;&#10;A contract for &#34;all goods we produce.&#34;&#10;Laws governing commercial transactions.&#10;Laws governing commercial transactions.&#10;Laws governing commercial transactions.&#10;Laws governing commercial transactions.&#10;Laws governing commercial transactions.&#10;Laws governing commercial transactions.&#10;Laws governing commercial transactions.&#10;Laws governing commercial transactions.&#10;Laws governing commercial transactions.&#10;Laws governing commercial transactions.

Accepted Answer

The Answer of seller and output contract and procedural unconscionability is...

Deck 12: Sales: Article 2 of the Uniform Commercial Code