BLAW IV

Pat is the beneficiary of his father's life insurance contract. Pat is a (n) ______beneficiary.

A spouse who is named as the beneficiary in a life insurance contract is a __________beneficiary.

Allie entered into a contract with Camp Woe B Gone, paying 2,000 for a six week camping experience for her son, Bart. Bart is the ________________ of the contract between Allie and Camp Woe B Gone.

White sold his business to Phipps. As part of the sale contract, Phipps agreed to pay off a bill White owed to one of his suppliers. Assume that Phipps does not pay the supplier as called for in the contract. Which parties may file suit against him?

White sold his business to Phipps. As part of the sale contract, Phipps agreed to pay off a bill White owed to one of his suppliers. This supplier is a ____________beneficiary of the sales contract.

Jim sold his law practice to Ann. As part of the sales contact, Ann agreed to pay Aaron, Jim's paralegal, the back wages Jim owed him. Aaron is a (n)_____________ beneficiary of the sales contract.

Which of the following statements about an intended beneficiary is true?

Laura lives on a cul de sac in a small town in Maine. The town does not have enough money to plow the cul de sac after each snowfall, so Laura personally pays Bill, who owns a plow, $5,000 a year to keep the cul de sac clear. The other residents of Laura's cul de sac are ___________beneficiaries of Laura's contract with Bill.

Bill receives quarterly dividends from a family owned corporation. He owes Sally 8,000 so he gives her his right to receive these dividends until the debt is paid. Assume that the corporation stops paying the quarterly dividend because of declining profits. What are Sally's rights in this situation?

Gourmet, an upscale restaurant chain, planned to open a new restaurant in downtown Smallville on Memorial Day weekend. Ye Olde Antique Shoppe, a merchant located next door to Gourmet, was looking forward to the increased sales it would realize from diners who dropped in from next door. Gourmet's contractor did not finish the building on time so Gourmet did not open for the big weekend. Can Ye Olde Antique Shoppe sue the contractor since it lost profits because of his failure to perform on time?

In construing a contract, courts give greater weight to provisions that are printed in the contract than to those that are written in by hand.

In construing a contract, typewritten terms are given more weight than handwritten terms.

Conditions concurrent in a contract require that the parties perform their contract duties at the same time.

A contract clause that states that a buyer will purchase a new home only if she can get financing under 6.5 is an example of a contract with a condition subsequent.

If you must have contract work completed by a certain date, you should include a "time is of the essence" clause in the contract.

A "time is of the essence" clause is an example of a constructive condition in a contract.

If the buyer has the right to reject a tender because of personal dissatisfaction, whether the dissatisfaction is genuine or in bad faith is a question of fact for a jury.

Constructive conditions in contracts are bargained for by the parties.

Constructive conditions in contracts are imposed by the courts to serve justice.

A party will receive no compensation under a contract if his performance was merely "substantial" and not perfect.

Article 2A of the Code governs ___________.

Sandy bought a large air conditioner from Big Box Home Store for $525. For an additional $100, the store delivered, installed and programmed the unit. Does this sale come under Article 2 of the Code?

Which of the following is not classified as a good under Article 2?

Which law governs the lease of the goods?

The document issued by a storage facility acknowledging that goods have been accepted for storage is a ________________.

Lenny bought a computer from Computer Store for $1,000. For an additional $100, the store delivered the computer, connected up the various devices, and transferred Lenny's files from his old computer. Would this transaction constitute a sale of goods under Article2?

The document issued by a common carrier evidencing receipt of goods for shipment is an_________________.

Which of the following is not a good under Article 2 of the Code?

Under the Code, a consignment is treated like a______________.

Mary runs a clothing store at a ski resort. She is approached by Sally who has several dozen funky hand knit ski caps she would like Mary to buy to sell in her store. Mary agrees on the condition that Sally take back any unsold hats at the end of the season. This agreement is a __________________.

Under the Code, both buyers and sellers have the right to _________.

Buyer sends Seller a written request for adequate assurances. Seller has ______days to respond.

Which of the following remedies are available to both buyers and sellers?

In the past 6 months Supplier has made late deliveries to a number of customers and a good portion of the goods delivered have been defective. Buyer is worried that an important scheduled delivery will be late or non-confirming. He sends a written request to Supplier asking for confirmation that the contract terms will be met. If Supplier does not respond to Buyer's written request within ______________, Buyer is entitled to assume that Supplier has repudiated the contract and may purchase the goods from another seller.

Which of the following would be reasonable grounds for a seller feeling insecure?

In the past 6 months Supplier has made late deliveries to a number of customers and a good portion of the goods delivered have been defective. Buyer is worried that an important scheduled delivery will be late or non-confirming. He sends a written request to Supplier asking for confirmation that the contract terms will be met. Buyer has exercised the remedy of __________.

A buyer does not have the right to inspect goods before paying for them if

If a buyer is paying for goods against a bill of lading or warehouse receipt he does not have the right to:

If a buyer discovers that a tender is non-conforming he may:

When an action takes place within an agreed upon time, or, absent an agreement, within a reasonable time, the action is taken _________.

To create an express warranty, the seller must use the terms "warrant" or "guarantee."

To recover for a breach of an express warranty, the buyer must prove that he actually relied on the seller's statements.

An opinion expressed by a jeweler about the value of a gem he sells creates an express warranty.

An express warranty arises when goods are purchased based on a catalogue description.

To create an express warranty, the seller must have the specific intention of making a warranty.

A warranty of title would not be implied for goods sold at a sheriff's sale.

An auctioneer at a judicial sale makes an implied warranty of title when he sells the goods.

There is no breach of warranty of title if the buyer knows that the property is subject to a lien or security interest.

In most states, the sale of used goods by a merchant of goods of that kind will not create an implied warranty of merchantability.

Written disclaimers of implied warranties of merchantability are not effective if printed in the same type face and color as the rest of the contract.