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Law chapter 15 review

Article 2 of the UCC covers the sale of tangible goods only
True
False
The UCC requires any acceptance to adhere to the “mirror image” rule.
True
False
The sale of both goods and services are covered by Article 2 of the UCC.
True
False
A contract with open quantity terms will never be valid
True
False
Under the UCC, an oral “merchant’s firm offer” is irrevocable for the time stated or no more than 3 months if no time is stated.
True
False
One must have title to the goods in order to have an insurable interest.
True
False
The Statute of Frauds requires all sales contracts to be in writing in order to be enforceable.
True
False
Generally, under the UCC, consideration is not required for a modification of a contract for the sale of goods to be valid.
True
False
The parol evidence rule prohibits any testimony concerning the terms of a written contract
True
False
An unconscionable contract may be avoided with court intervention under the UCC
True
False
Once title to the goods passes to the buyer, the seller no longer has an insurable interest in the goods.
True
False
The default contract under the UCC is a destination contract
True
False
A conditional acceptance by the offeree is considered a counteroffer
True
False
An offer to purchase may be accepted by shipping conforming or Non-conforming goods
True
False
Fungible goods are goods that are alike by agreement, physical Nature or trade usage
True
False
The General purpose of the UCC is to
Protect the merchant
Protect the consumer
Protect parties from unconscionable contracts
Standardize commercial law and facilitate commercial transactions
An offer that is accepted by shipping non-conforming goods is
A breach
An acceptance
Invalid
Both 1 and 2
Shipping non-conforming goods as an accommodation will
Be considered a breach
Be considered a counteroffer
Be considered an acceptance
None of the above
Contracts that violate the Statute of Frauds will be enforceable if
Partial performance has been rendered
The goods are specially made for the buyer
The oral contract is admitted in open Court
All of the above
The subject matter of a sale of goods may be
Real property
A patent
Computer services
A car
The sale provisions of Article 2 of the UCC apply to
Merchants
Merchants but non merchants
Nonmerchants but not merchants
Both merchants and nonmerchants
Partial performance has been rendered
Course of dealing
Usage of trade
Course of performance
All of the above
Generally, which of the following open terms would result in no enforceable contract?
Price
Payment method
Shipment method
Quantity
A merchant is one who
Deals in goods of kind involved in the transactions
Hires a merchant as her agent
Holds himself out as having special skill or knowledge regarding the goods in question
Any of the above
Under the UCC, a modification to a contract requires no consideration as long as
There is no fraud
The modification is not an attempt at extortion
The modification is not illegal or against public policy
All of the above
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