UCC

Question 1

§2-302

Answer 1

Unconscionable Contract or Clause

1. A court can find the contract, a clause, the remaining contract, or application unconscionable
2. parties may present evidence against unconscionably.

Question 2

§2-202

Answer 2

Final Written Expressions: Parol or Extrinsic Evidence
The final written agreement cannot be contradicted, but supplemented by
a) course of performance, course of dealing, trade usage
b) by evidence consistent with additional terms unless he court finds the writing to have been intended also as a complete and exclusive statement of the terms of the agreement

Question 3

§2-201

Answer 3

Formal Requisites of the Statute of Frauds

1) Writing needed if sales price is $500+
2) Between merchants, reasonable time must be given for acceptance
3) A contract may not meet requirement 1 but still be enforceable if a) specific products for buyer and cannot be sold to others and seller began production before notice was received, b) parties acknowledge contract was agreed to but not signed, c) with respect to goods that have been made and accepted

Question 4

§2-203

Answer 4

Sales Inoperative
The affixing of a seal to a writing evidence a contract for sale or an offer to buy or sell goods does not constitute the writing a sealed instrument and the law with respect to sealed instruments does not apply to such a contract or an offer.

Question 5

§2-209

Answer 5

Modification, Rescission, and Waiver

1) an agreement modifying a contract with this article need no consideration to be binding
2) a signed agreement which excludes modifications or rescission cannot be modified unless between merchants and signed by other party
3) statute of frauds must be satisfied if the contract is withing its provisions
4) although an attempt at modification does not satisfy the requirements of subsection 2 or 3 it can operate as a waiver
5) the party making the waiver can withdraw the waiver with notification to other party

Question 6

§2-609

Answer 6

Right to Adequate Assurance of Performance

1) Sales contract will not be impaired

Question 7

§2-305

Answer 7

Open Price Terms
1. parties can conclude a contract even if price is not settled. Price is reasonable if a) nothing is said about price, b) parties never agree to price, c) price is fixed by market
2. price is fixed by the seller or by the buyer
3.

Question 8

§2-308

Answer 8

Absence of Specified Place for Delivery
Unless other wise agreed
a) sellers place of business or residence, but b) in a contract for sale of identified goods which to the knowledge of the parties at the time of contracting are in some other place, that place is the place for their delivery, and c) documents of title may be delivered through customary banking channels

Question 9

§2-312

Answer 9

Warranty of Title and Against Infringement: Buyer’s Obligation Against Infringement

Question 10

§2-318

Answer 10

Third Party Beneficiaries of Warranties Express or Implied

Question 11

§2-716

Answer 11

Buyer’s Rights to Specific Performance or Replevin

1. specific performance may be decreed where the goods are unique or in other proper circumstances
2. decree for specific performance may include such terms and conditions as to payment of the price, damages, or other relief
3. buyer may have right to replevin if conditions are met

Question 12

§2-719

Answer 12

Contractual Modifications or Limitations of Remedy