1. Article II of the UCC does not apply to transactions between consumers and re
ID: 2601114 • Letter: 1
Question
1. Article II of the UCC does not apply to transactions between consumers and requires a merchant to be one of the parties to the Sale. True or False
2. The statue of Frauds defines and established penalties for fraud. True or False
3. Under the Statue of Frauds no witness testimony is permitted under any circumstances. True or False
4. As Article II of UCC is much less techincal then the rules of common law contracts considerations has been dropped completely as a requirement of a sales contracts. True or False
5 An oral agreement to sell $1,000 worth of rutabagas will be enforced in its entirety if:
a. the buyer has given a deposit for $250.
b. if the buyer has accepted 10 out of 20 tons of the crop.
c. the buyer admitted under oath that the contract had been created.
d. under all of the above (ac) the contract will be enforced in its entirety.
6. The fundamental laws of sales contracts are found primarily in
a. judicial decisions of the federal courts.
b. executive decision made by the state governors.
c. statutes passed by the state legislature.
d. All of the above (a-c) are equally important in determining the fundamental laws involving sales contracts.
7. To satusfy the UCC Statue of frauds, a written agreement for the sale of goods must
a. contain payment terms
b. indidicate that a contract for sale has been made
c. be signed by both buyer and seller
8. Under Federalism the United States Supreme court has the authority to overturn a decision by a states highest court when the decision invovles purely state law ( no issues of national law involved).. True or False
9. Under Article 2 of the UCC why does it matter where a part to a contract is a merchant
a. Merchants under some rules are treated differently than other parties and must meet higher standards
b. All contracts in which one or bot parties are merchant are handled under Article 2A of the UCC
c. It is the test for applying ARticle 2 of the UCC
d. Merchants are excused from the provisions of Article 2 of the UCC
10. If one or more terms are left open (not agreed upon) under Article II the court will enforce the contract if
a. the parties clearly intended to create a contract
b. the court has some reasonably certain basis to supply the missing terms
c. Both of the above (a &b ) are needed to enforce the agreement
Explanation / Answer
1.
False, it do apply but it imposes higher faith on transaction in which merchant is also involved.
2.
False, The statue of fraud requires that contracts be formalised into writing and is undersigned by the parties.
3.
False, testimony can be given, but oral testimony cant be given, contract is a must between parties.
4.
True, consideration can be left open in the contract and gap fillers can be used later.
An expert cna do initial 4 qtns in case of multi part qtns. I hope this will be helpful to you.
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