Themis Essay 4119

Question 1

The UCC governs contracts for the sale of

Answer 1

goods.

Question 2

A legally enforceable contract is created through the process of

Answer 2

mutual assent (offer and acceptance) and consideration.

Question 3

An offer is an objective manifestation of a willingness by the offeror to

Answer 3

enter into an agreement that creates the power of acceptance in the offeree.

Question 4

An offer must express the present intent of the offeror to be

Answer 4

legally bound to a contract.

Question 5

Under the UCC, a contract for the sale of goods of $500 or more must

Answer 5

comply with the Statute of Frauds.

Question 6

In Virginia, the required writing to enforce a contract for the sale of goods of $500 or more must be signed by the party against whom enforcement is sought, but

Answer 6

need not contain all the material terms of the contract or indicate which party is the buyer and seller.

Question 7

In Virginia, all that is needed for a writing to comply with the Statute of Frauds is that it is:

Answer 7

(i) signed by the party against whom enforcement is sought; and (ii) affords a basis for believing that the offered oral evidence rests on a real transaction.

Question 8

There is an exception to the Statute of Frauds when:

Answer 8

(i) the goods are to be specially manufactured for the buyer;
(ii) the goods are not suitable for sale to others, and
(iii) the seller has made a substantial beginning to their manufacture.

Question 9

Under the UCC, if the seller tenders non-conforming goods, the buyer has the right to

Answer 9

accept or reject all or part of the goods.

Question 10

In order for a buyer to reject the goods, the buyer must

Answer 10

give notice to the seller within a reasonable time and do so before acceptance.

Question 11

A buyer accepts goods by:

Answer 11

(i) stating acceptance,
(ii) using the goods, or
(iii) failing to reject within a reasonable time.

Question 12

A buyer may revoke an acceptance of goods if a defect substantially impairs the value of the goods and

Answer 12

the buyer accepted them without discovery of the non-conformity when acceptance was reasonably induced by the difficulty of discovery or by assurances from the seller.

Question 13

The buyer must inform the seller of the buyer’s decision to revoke acceptance within

Answer 13

a reasonable time after the non-conformity is discovered or should have been discovered.

Question 14

Revocation of acceptance of goods must occur before

Answer 14

any substantial change in the condition of the goods not caused by the defect.