Exam 3 CHP 11

Question 1

Governs many contracts for the sale of goods.

Answer 1

Uniformed Commerical Code

Question 2

Covers the sale of goods, not services.

Answer 2

Article 2 of UCC

Question 3

All things which are movable at the time of identification to the contract for sale.

Answer 3

Goods

Question 4

A person who regularly deals in goods of the kind involved in the transaction.

Answer 4

Merchant

Question 5

To ensure that a buyer gets a ‘good, clean title’ and that the buyer ‘will not be exposed to a lawsuit in order to protect it.’

Answer 5

Warranties of title

Question 6

Imposed on the seller, Requires that the goods are reasonably fit and safe for the purposes there are being sold for. Also applies to packaging and labeling

Answer 6

Implied warranty of merchantability

Question 7

Seller’s promise as to quality, safety, or performance; may be created by the seller’s statements, description, or models.

Answer 7

Express warranty

Question 8

Used to reduce liability, language that attempts to dismiss an express warranty.

Answer 8

Disclaimer warranty

Question 9

The right of a seller to make good on an improper delivery of goods if done within the time allowed by the contract.

Answer 9

Cure

Question 10

A valid and sufficient offer of performance under a contract.

Answer 10

Tender

Question 11

A seller must tender the quality, quantity, and delivery method as specified in the contract or the buyer has the right to reject the goods.

Answer 11

Perfect tender rule

Question 12

If the buyer relies on the seller’s skill or judgment in selecting goods for a particular purpose, the goods must be able to perform that purpose.

Answer 12

Fitness for a particular purpose

Question 13

When a seller fails to deliver goods, the buyer is entitled to buy substitute goods and recover the price difference.

Answer 13

Cover