Question 1

How does the Uniform Commercial Code regulate a contract if an agreed-upon standard for an open price term is not available at the time of delivery of goods?

Accepted Answer

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Question 2

Under the UCC,an offeree's acceptance must be on the same terms as the offer.

Accepted Answer

Under the UCC, an offeree's acceptance does not have to be on the exact same terms as the offer, especially in the context of sales of goods. The UCC allows for a contract to be formed even if the acceptance includes terms that are additional to or different from those in the offer, subject to certain limitations.

Question 3

Nina has her missing teeth replaced with dentures in a local hospital.Cooper Dental Materials Inc.supplies dentures to the hospital with a two-year warranty on the dentures.The dentures cost Nina 10 percent of the total costs she incurred in the hospital services.A few months later,Nina's dentures get worn out.Is there a transaction of goods in this sale? Can Nina sue the hospital for a breach of the implied warranty?

Accepted Answer

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Question 4

How does the Uniform Commercial Code hold a contract with undetermined terms enforceable? Provide examples.

Accepted Answer

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Question 5

A lessor orally contracts to lease 15 motorbikes to a lessee.The lessee accepts the first 10 bikes and refuses to accept the delivery for the rest.The lessor sues the lessee for a breach of contract.The lessee asserts the Statute of Frauds and proclaims the contract unenforceable,but the court deems the contract enforceable.Discuss arguments for or against the court's verdict.Is the lessee liable to purchase all the bikes under the contract.

Accepted Answer

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Question 6

How can the Statute of Frauds writing requirements be satisfied under the written confirmation rule if both the parties to a contract are merchants?

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Question 7

If the parties to a contract do not agree to a place of delivery during the time of contracting but know that the goods are located at some other place,then the place of delivery is the seller's place of business.

Accepted Answer

If the parties to a contract do not agree to a place of delivery during the time of contracting but know that the goods are located at some other place, then the place of delivery is the place where the goods are located at the time of contracting. It is not necessarily the seller's place of business.

Question 8

Is an oral modification to a contract enforceable? Explain with an example.

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Question 9

The Statute of Frauds provides that all contracts irrespective of their costs must be in writing to be enforceable.

Accepted Answer

The Statute of Frauds requires certain types of contracts to be in writing to be enforceable, but this does not apply to all contracts regardless of their costs.

Question 10

Explain with an example a transaction where the lessor does not manufacture,select,or supply the goods,but acquires title to the goods?

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Question 11

On July 1,Seidel Motors,an automobile dealer offers to sell a luxury vehicle to Janet for $50,000.Seidel signs a written assurance to keep the contract open till July 30.A week later Seidel sells the car to another buyer.On July 30,Janet tenders $50,000 for the car.There has been a breach of contract.Compare and contrast Seidel's liability to Janet under the common law of contracts and firm offer rule.

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Question 12

The assortment of goods to a sales contract can be left as an open term.

Accepted Answer

The assortment of goods can be left as an open term in a sales contract, meaning that the specific items that will be sold can be determined later.

Question 13

Oral modification of a contract is not enforceable if the parties agree that any modification of the sales or lease contract must be signed in writing.

Accepted Answer

This statement reflects one of the requirements for enforceability under the Statute of Frauds, which requires certain types of contracts to be in writing and signed by the parties. If the original contract requires written modifications, then any oral modifications would not be enforceable.

Question 14

Open terms are permitted into contracts if there is a reasonably certain basis for giving an appropriate remedy and the parties intended to make a contract.

Accepted Answer

Open terms, which are terms that are not specifically defined or outlined in a contract, can be permitted if there is a way to provide an appropriate remedy and if the parties intended to create a binding agreement. However, the terms of the contract must still be sufficiently definite for it to be enforceable.

Question 15

Discuss how the UCC's regulation of additional terms differs from the common law of contracts.

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Question 16

The UCC permits an acceptance of sales contracts to contain additional terms and still to act as an acceptance rather than a counteroffer.

Accepted Answer

Under the UCC, an acceptance that contains additional or different terms than those in the original offer is still a valid acceptance unless the acceptance is expressly made conditional on the offeror agreeing to the additional or different terms. This is known as the "battle of the forms" and is allowed under the UCC.

Question 17

An oral sales or lease contract that should otherwise be in writing is enforceable to the extent to which the goods have been received and accepted by the buyer or lessee.

Accepted Answer

According to the Uniform Commercial Code (UCC), an oral sales or lease contract can be enforceable if the buyer or lessee has received and accepted the goods, even if the contract was not in writing. However, it is always recommended to have important agreements in writing to avoid misunderstandings or disputes.

Question 18

Two merchants exchange contract forms with each containing additional terms favorable to the drafter.Can the additional terms be accepted as part of the contract? Are there any exceptions to accepting the additional terms?

Accepted Answer

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Question 19

An offeree may send an acceptance drafted in his own form contract in reply to the offeror's standard form contract.

Accepted Answer

An offeree has the option to send an acceptance drafted in his own form contract in response to the offeror's standard form contract. This is known as a "battle of the forms" scenario and can result in conflicting terms that may need to be resolved through negotiation or legal action.

Question 20

An electronic signature may be that of a person's electronic agent.

Accepted Answer

An electronic signature can be created and transmitted by a person's electronic agent, such as a computer or smartphone, as long as the person has authorized this method of signing.

Quiz 16: Formation of Sales and Lease Contracts