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1. The UCC differs from the United Nations Conven...

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1. The UCC differs from the United Nations Convention on Contracts for the International Sale of Goods (CISG) in that: A) the CISG applies to the sale of consumer transactions while the UCC governs both consumer and commercial transactions B) the UCC does not require contracts to be in writing, CISG requires contracts for the sale of goods in excess of $500 to be in writing C) the CISG applies to both consumer and commercial transactions, while the UCC applies only to commercial sales of goods D) the UCC holds merchants to higher standards in some circumstances, while the CISG does not make a distinction between merchants and non-merchants 2. A quasi contract is: A) contract like duties imposed by the court to prevent unjust enrichment B) a contract that has been fully performed C) an agreement which contains all but one of the basic elements needed to form an enforceable contract D) a contract where terms are stated orally only 3. Christy downloaded a music software program from the Internet. Under the UCC, the software is: A) a good B) a good faith warranty C) a mixture of goods and services D) a service 4. Pete offered Liz a job at his new law firm. In anticipation, Liz quit her job at Mega Firm, bought a new computer and invested in a new set of law books. Shortly before her anticipated start date with Pete's firm, Pete informed Liz that he had changed his mind, and no longer wanted her. Liz may recover under the doctrine of: A) unjust enrichment B) promissory estoppel C) unilateral contract D) express contract 5. Which of the following is true of the laissez faire economic theories? A) These theories were never considered a part of the public policy in the 19th century B) People in business had to face a lot of restrictions while planning the kind of economy that increasing industrialization required C) People in business were unable to limit or shift many of their economic risks by placing clauses in their contracts D) The courts were unwilling to interfere with people's private agreements or to do anything that might interfere with the country's growing industrialization 6. An executory contract is a contract: A) where one party performs on the basis of a promise made by the other B) where executive privileges are implied C) which has not yet been fully performed by all parties D) which has been fully performed by all parties 7. Which of the following is correct regarding the CISG? A) It provides rules governing the formation of international contracts and regulates the transfer of goods under those contracts B) It applies to commercial and consumer transactions C) It focuses on which terms of the offer and acceptance are the same D) Its fundamental goal is to unify and codify the law on sale of goods among contracting parties from different states in the United States 8. The UCC defines "goods" as: A) tangible public property B) intangible personal property C) abstract property D) tangible personal property 9. Ben makes an agreement with Bob for Bob to steal Professor Smith's laptop computer. The agreement between Ben and Bob is: A) valid B) unenforceable C) void D) voidable 10. When two parties have directly, but orally, stated all of the terms of a contract at the time it was formed, they have: A) made an express contract B) executed the contract C) not made an enforceable contract D) made an implied contract 11. Elroy is fifteen years old and makes an agreement with Dave to buy Dave's mp3 player. The agreement: A) is unilateral B) cannot be cancelled C) is executed D) is voidable 12. Which of the following is true about a contract? A) It must always be supported by consideration B) Any offer made is a contract, though there is no acceptance of the offer C) It must be voluntarily entered into and promise to perform a legal act D) It need not necessarily be entered into by parties having capacity to contract 13. An oral contract which was required by contract law to be in writing is: A) void B) unenforceable C) voidable D) valid 14. Joe pays Ann to mow his lawn and Ann mows Danna's lawn by mistake. Danna peeps out her window and sees Ann mowing, yet says nothing to Ann about her mistake since Danna needs to have her lawn mowed. When Ann approaches Danna for payment, Danna refuses, arguing that she had never asked Ann to mow her lawn. Under these circumstances, Ann can recover payment from Danna under: A) executory contract B) void contract C) quasi contract D) express contract 15. A promise exchanged for an act is an example of a: A) a bilateral contract B) a quasi-contract C) an implied contract D) a unilateral contract 16. A promise exchanged for a promise is an example of: A) an implied contract B) a bilateral contract C) promissory estoppel D) a unilateral contract 17. Compared with common law, the UCC: A) applies theoretical rules to deal with what people do in the marketplace today B) is more likely to find that parties have a contract C) is more rigid D) is more concerned with technical rules 18. Which of the following is intended to avoid unjust enrichment? A) An express contract B) A quasi contract C) A void contract D) A bilateral contract 19. Which of the following is correct regarding the definition of "Merchant" by UCC? A) It deals only with nonprofessional sellers B) It sometimes imposes a higher standard of behavior on merchants than non-merchants C) It regards everyone covered by the UCC as a merchant D) It always imposes the same standards on merchants and non-merchants 20. In a contract involving elements of both goods and services, a court will determine whether Article 2 of the UCC applies by: A) using the criteria of reasonableness B) balancing the need to apply a uniform standard with the interest of justice C) asking if the contract is barred by public policy D) asking which element predominates 21. As used in the UCC, the concept "reasonable": A) refers to what a reasonable person would do in the marketplace B) is a theoretical concept based on the "reasonable person standard" of tort law C) refers to the capacity to contract D) is a practical standard used to gauge what people really do in the marketplace 22. Article 2 of the UCC applies to all contracts for the: A) liquidation of assets B) transfer of money between banks C) sale of goods D) sale of securities 23. Ted makes a deal with Ella to sell her his farm. They shake hands to "seal the deal," but do not put the agreement in writing. The contract is: A) valid B) void C) voidable but enforceable D) unenforceable 24. If there is no UCC rule governing a particular contract problem: A) freedom of contract is obtained B) unconscionable contract is assumed C) the common law is applicable D) unjust enrichment is assumed 25. Which of the following statements is true about the UCC? A) The most obvious purpose of UCC was to establish a uniform law to govern commercial transactions that often takes place within the state B) One of the purposes of UCC was to promote fair dealing and higher standards of behavior in the marketplace C) In accordance with the intentions of the drafters of UCC, complete uniformity has been achieved D) The Code is divided into 10 articles that deal with many of the problems that might ordinarily arise in a commercial transaction 26. Fran promises to reimburse Tim $700 for a new scooter for his own use. After Tim delivers the scooter, Fran refuses to pay Tim. Tim may recover under the doctrine of: A) executory contract B) unjust enrichment C) unilateral contract D) promissory estoppel 27. The doctrine of promissory estoppel: A) protects reliance, not bargains B) protects bargains, not reliance C) does not make promises enforceable D) makes the contracts unenforceable 28. Regarding promissory estoppel most courts: A) do not follow the requirements for promissory estoppel set forth in the "Restatement (Second) of Contracts" despite the fact that the "Restatement" carries the force of law B) follow the requirements for promissory estoppel set forth in the "Restatement (Second) of Contracts" because the "Restatement" is the law C) do not follow the "Restatement" as it does not carry the force of law D) follow the requirements for promissory estoppel set forth in the "Restatement (Second) of Contracts" despite the fact that the "Restatement" does not carry the force of law 29. Which of the following is a change that took place in the legal system that led to the development of contract law in the process? A) Legislation does not control any contractual relationships. This has been left to private bargaining B) Courts tend to view with great suspicion, attempts by manufacturers to limit their responsibility for their products by contract C) Courts began to shift their emphasis from protecting consumers and workers to protecting business and promoting industrialization D) Courts today are not willing to consider defenses based on inequality of bargaining power between the parties

 

Paper#10670 | Written in 18-Jul-2015

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