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UCC Sections 2-716(1)and 2A-521(1)allow ...View Answer
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B) False
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A) When the lessor discovers the lessee is insolvent
B) When the lessee fails to make payments according to the lease terms
C) When the lessee has received at least 10 days prior notification of reclamation
D) When the lessor discovers a significant reduction in the lessee's credit score
E) When the lessor can establish a valid contract for actual purchase of the goods
G) C) and D)
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A) Roland was in breach giving Selina the right to cancel the contract.
B) Roland was only in partial breach, and Selina had not right to cancel the contract.
C) Roland was in breach, but Selina had no right to cancel the contract because Roland had the right to cover.
D) Roland was in breach, but Selina had no right to cancel the contract because a consumer transaction was involved.
E) Roland was in breach, but Selina had no right to cancel the contract because Roland was available for service of process.
G) D) and E)
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A) The seller will likely be able to proceed because the UCC has a flexible statute of limitations that takes into account whether the seller attempted to collect or lulled the plaintiff into believing collection efforts would not be made.
B) The seller will be able to proceed because the UCC statute of limitations in this case would not expire for five years once a cause of action accrued.
C) The seller will not be able to proceed because the UCC statute of limitations in this case expired three years after the cause of action accrued.
D) The seller will not be able to proceed because the UCC statute of limitations in this case expired four years after the cause of action accrued.
E) The seller will not be able to proceed because the UCC statute of limitations in this case expired two years after the cause of action accrued.
G) All of the above
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A) A provision for liquidated damages is illegal.
B) A provision for liquidated damages is void because of public policy.
C) A provision for liquidated damages is voidable because of public policy.
D) A provision for liquidated damages is enforceable so long as it is not punitive in nature.
E) A provision for liquidated damages will be enforced regardless of whether it is punitive in nature.
G) None of the above
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A) She has no right to cover although she may sue for damages because, while the UCC allows for installment sales, deposits are not required in the installment sale situation.
B) She has a right to cover only because she is a consumer, not a merchant.
C) She has a right to cover only if she pays the initial watercraft seller any amount by which the cost of the watercraft used for cover was lower than the cost of the initial watercraft.
D) She has no right to cover only because she is a consumer, not a merchant.
E) She has no right to cover, and the merchant was not required to deliver the personal watercraft.
G) B) and D)
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A) Liquidated damages are not available in China.
B) Through judicial mandate, China adopted the U.S. standard for awards of liquidated damages.
C) Liquidated damages are available under the People's Republic of China Contract Law legislation, but only in amounts of up to 20% of the actual damages incurred by the breaching party.
D) Liquidated damages are available under the People's Republic of China Contract Law legislation, but Chinese judicial interpretation of the law limits liquidated damages to no more than 10 percent above the actual damages incurred by the nonbreaching party.
E) Liquidated damages are available under the People's Republic of China Contract Law legislation, but Chinese judicial interpretation of the law limits liquidated damages to no more than 30 percent above the actual damages incurred by the nonbreaching party.
G) B) and E)
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A) That Abbott industries was liable for the cost of the recall and destruction of the defective medication, for the costs of employee overtime, and for lost future sales because Altana was unable to meet its contractual obligations.
B) That Abbott industries was liable for the cost of the recall and destruction of the defective medication, for the costs of employee overtime, and for lost future sales even though Altana was able to meet its contractual obligations.
C) That Abbott industries was liable for the cost of the recall and destruction of the defective medication and for the costs of employee overtime, but not for lost future sales because Altana was able to meet its contractual obligations.
D) That Altana was only entitled to receive cover, meaning substitution for the defective medication.
E) That Altana was unable to recover anything because business people take a risk that some shipments will be bad.
G) B) and C)
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B) False
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A) Theresa breached the contract
B) Theresa revoked acceptance and covered
C) Theresa canceled the contract and exchanged
D) Theresa substantially performed
E) Theresa engaged in a trade modification
G) A) and B)
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B) False
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A) That is the only remedy Trudy will receive.
B) The $100 will be deducted from the $400 Theresa owes leaving Theresa owing Trudy $300.
C) Trudy will be allowed to keep the $100 and is still entitled to receive $400 from Trudy.
D) Because of the extra work involved, Trudy will be required to deduct only half of the $100 from Theresa's debt, leaving Theresa owing $350.
E) After the $100 is deducted, Trudy and Theresa will be required under the UCC to split the difference leaving Theresa owing $150.
G) A) and E)
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A
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A) The benefit of the bargain
B) Any amounts of money lost plus 10%
C) Any amounts of money lost plus 15%
D) Any amounts of money lost plus 20%
E) Any amounts of money lost plus 25%
G) C) and D)
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A
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A) Punitive damages
B) Consequential damages
C) Remedial damages
D) Nominal damages
E) Control damages
G) All of the above
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A) The court ruled that the remedy of repair, replacement, or a refund failed of its essential purpose and that the buyer was therefore not limited to that remedy.
B) The court ruled that the remedy of repair, replacement, or a refund did not fail of its essential purpose, and the remedy was enforced.
C) The remedy of repair, replacement, or a refund was found unconscionable and not enforced.
D) The remedy of repair, replacement, or a refund was found unconscionable but enforced anyway.
E) The remedy of repair, replacement, or a refund was not enforced because usage of trade may not supplement a contract.
G) A) and D)
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A) That consequential damages may be limited or excluded unless the limitation or exclusion benefits one party over the other.
B) That consequential damages may be limited or excluded unless the limitation or exclusion is unconscionable.
C) That consequential damages may be limited but not excluded entirely.
D) That consequential damages may be limited or excluded entirely unless any type of breach of warranty is involved in which case consequential damages may be limited but not excluded.
E) That consequential damages may be limited or excluded entirely unless any type of breach of warranty is involved in which case consequential damages may be neither limited nor excluded.
G) A) and D)
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A) A limitation of consequential damages for commercial losses is acceptable so long as both parties are represented by an attorney.
B) A limitation of consequential damages for commercial losses is acceptable so long as any consumer was represented by an attorney.
C) A limitation of consequential damages for commercial losses is prima facie unconscionable.
D) A limitation of consequential damages for commercial losses is analyzed in the same way as a limitation of consequential damages for personal injury.
E) A limitation of consequential damages for commercial losses is not prima facie unconscionable.
G) C) and D)
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A) 5 days
B) 10 days
C) 15 days
D) 30 days
E) 60 days
G) A) and C)
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B
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B) False
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