Question 1

The duty of a seller to deliver imposes the obligation of:

Accepted Answer

A)  making the goods available to the buyer.
B)  transporting the goods to the business address of the buyer.
C)  delivering the goods to a carrier for shipment to the buyer.
D)  tendering the goods at the buyer's residence if the buyer has no place of business.E) A) and B)
F) All of the above

Question 2

The UCC imposes a higher degree of good faith on a merchant seller or buyer of goods than on a nonmerchant seller or buyer of goods.

Accepted Answer

A) True 
 B)False

Question 3

In a cash sale not requiring the movement of goods, each party has the right to demand that the other perform at the same time.

Accepted Answer

A) True 
 B)False

Question 4

Jared agrees to purchase twelve computers from Zack Enterprises, Inc. for sale in Jared's department store. Twelve boxes from Zack Enterprises have just arrived at the department store. What are Jared's rights and responsibilities?

Accepted Answer

Jared first has a right to examine, or i...

Question 5

When a party refuses to perform a contract at the time of performance, a repudiation has occurred.

Accepted Answer

A) True 
 B)False  True

Question 6

The person on whom a demand for assurance is made must reply in writing for the assurance to be deemed "adequate."

Accepted Answer

A) True 
 B)False

Question 7

The obligations of the parties to a sales contract include:

Accepted Answer

A)  the seller's duty to deliver the goods to the buyer's place of business.
B)  the buyer's duty to always accept the goods.
C)  the seller's duty to arrange for appropriate transport.
D)  the buyer's duty to pay for the goods.E) A) and C)
F) B) and D) D

Question 8

The right to ___________ is a second chance for a seller to make a proper tender of conforming goods.

Accepted Answer

A)  rehabilitate
B)  repair
C)  heal
D)  cureE) A) and C)
F) B) and D)

Question 9

When a method of transportation called for by a contract becomes unavailable for any reason, the contract is automatically voided.

Accepted Answer

A) True 
 B)False

Question 10

If the party on whom demand for assurance of performance is made has an established reputation, a reaffirmation of the contract obligation and a statement that it will be performed may be sufficient to assure a reasonable person that it will be performed.

Accepted Answer

A) True 
 B)False  True

Question 11

A seller's duty to deliver goods requires the seller to transport the goods to the place designated by the buyer.

Accepted Answer

A) True 
 B)False

Question 12

The seller's right to cure a defective tender means that the seller will be given a second chance to make a proper tender of conforming goods.

Accepted Answer

A) True 
 B)False

Question 13

The standard for commercial impracticability is:

Accepted Answer

A)  hypothetical.
B)  conjectural.
C)  objective.
D)  subjective.E) C) and D)
F) A) and B)

Question 14

When an anticipatory repudiation has occurred, the aggrieved party has been notified that the contract will never be performed.

Accepted Answer

A) True 
 B)False

Question 15

A buyer always has a right to examine the goods to determine if, in fact, the goods conform to the contract.

Accepted Answer

A) True 
 B)False

Question 16

Unless otherwise agreed by the parties, payment by a buyer requires payment either in cash or by certified check.

Accepted Answer

A) True 
 B)False

Question 17

Upon a seller's tender of nonconforming goods and the buyer's rejection of them, the transaction has ended.

Accepted Answer

A) True 
 B)False

Question 18

If a contractually-specified mode of transportation is not available, the:

Accepted Answer

A)  contract is automatically voided.
B)  seller must make delivery by a commercially-reasonable substitute.
C)  buyer must arrange to pick up the goods.
D)  seller must make personal delivery.E) B) and C)
F) C) and D)

Question 19

The UCC specifies the form that the assurance of performance is to take.

Accepted Answer

A) True 
 B)False

Question 20

The statement, "I doubt that I can perform the contract," is a repudiation of the contract.

Accepted Answer

A) True 
 B)False

Exam 26: Obligations and Performance

The duty of a seller to deliver imposes the obligation of:

Correct AnswerverifiedShow Answer

The UCC imposes a higher degree of good faith on a merchant seller or buyer of goods than on a nonmerchant seller or buyer of goods.

Correct AnswerverifiedShow Answer

In a cash sale not requiring the movement of goods, each party has the right to demand that the other perform at the same time.

Correct AnswerverifiedShow Answer

Jared agrees to purchase twelve computers from Zack Enterprises, Inc. for sale in Jared's department store. Twelve boxes from Zack Enterprises have just arrived at the department store. What are Jared's rights and responsibilities?

Correct AnswerverifiedJared first has a right to examine, or i...View AnswerShow Answer

When a party refuses to perform a contract at the time of performance, a repudiation has occurred.

Correct AnswerverifiedTrue

The person on whom a demand for assurance is made must reply in writing for the assurance to be deemed "adequate."

Correct AnswerverifiedShow Answer

The obligations of the parties to a sales contract include:

Correct AnswerverifiedD

The right to ___________ is a second chance for a seller to make a proper tender of conforming goods.

Correct AnswerverifiedShow Answer

When a method of transportation called for by a contract becomes unavailable for any reason, the contract is automatically voided.

Correct AnswerverifiedShow Answer

If the party on whom demand for assurance of performance is made has an established reputation, a reaffirmation of the contract obligation and a statement that it will be performed may be sufficient to assure a reasonable person that it will be performed.

Correct AnswerverifiedTrue

A seller's duty to deliver goods requires the seller to transport the goods to the place designated by the buyer.

Correct AnswerverifiedShow Answer

The seller's right to cure a defective tender means that the seller will be given a second chance to make a proper tender of conforming goods.

Correct AnswerverifiedShow Answer

The standard for commercial impracticability is:

Correct AnswerverifiedShow Answer

When an anticipatory repudiation has occurred, the aggrieved party has been notified that the contract will never be performed.

Correct AnswerverifiedShow Answer

A buyer always has a right to examine the goods to determine if, in fact, the goods conform to the contract.

Correct AnswerverifiedShow Answer

Unless otherwise agreed by the parties, payment by a buyer requires payment either in cash or by certified check.

Correct AnswerverifiedShow Answer

Upon a seller's tender of nonconforming goods and the buyer's rejection of them, the transaction has ended.

Correct AnswerverifiedShow Answer

If a contractually-specified mode of transportation is not available, the:

Correct AnswerverifiedShow Answer

The UCC specifies the form that the assurance of performance is to take.

Correct AnswerverifiedShow Answer

The statement, "I doubt that I can perform the contract," is a repudiation of the contract.

Correct AnswerverifiedShow Answer

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Jared first has a right to examine, or i...
View Answer

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True

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D

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