UCC Sales Article 2

Question 1

obligation to deliver w/out specific id

Answer 1

duty to provide substitute if available

Question 2

risk of loss

Answer 2

starts with seller until buyer takes possession of goods

Question 3

requirements for writing to be enforceable contract

Answer 3

must specify subject matter and if more than one the quantity

Question 4

right of specific performance

Answer 4

only when identified to the contract and unique

Question 5

implied warranty of merchantability disclaimer

Answer 5

may be disclaimed by oral statement that mentions merchantability

Question 6

warranty of title exclusion

Answer 6

seller is passing only what right or title they have

Question 7

how implied warranty of fitness arises

Answer 7

awareness of use by seller and buyer is relying

Question 8

when is counteroffer valid under UCC and Common

Answer 8

when received

Question 9

are punitive damages awarded for breach of contract

Answer 9

no

Question 10

6 elements negotiable instrument

Answer 10

writing, signed, unconditioned, sum certain in money, payable on demand or definite time, payable to order or bearer.

Question 11

promissory note

Answer 11

2 parties

Question 12

rights available to seller upon material breach of contract

Answer 12

right to cancel, right to recover

Question 13

right of buyer to inspect before payment

Answer 13

at any reasonable time, place, or manner, unless COD or as is

Question 14

FOB destination

Answer 14

destination specified in contract not by buyer

Question 15

immaterial mistake on offer

Answer 15

valid and enforceable

Question 16

express warranty

Answer 16

as part of bargain sells goods by description

Question 17

liquidated damages

Answer 17

if no reasonable amount stated may collect $500 or 20% of purchase price, whichever less