BUL3130- Exam 3, BUL 3130 Exam 3 | UPDATED Questions with
100% Verified Answers
Question: Fred enters into a contract to buy an air conditioner with Freeze Right AC Company. Part of the
contract included instillation of the AC unit. Freeze Right does not perform on the contract. Which of the
following is true?
Answer:
Fred (or a court) would look to the predominant factor test to see whether the UCC would cover the contract.
Question: A contract between Fresh Fruit Corporation and Green Grocer, Inc., requires Fresh Fruit to deliver
goods to Green Grocer's place of business in good condition. This is
Answer:
a destination contract
Question: Metro Daily and New City Newsstand enter into a contract under which Metro agrees to deliver a
certain quantity of newspapers to New City each day. The contract does not include a price term. In a suit
between the parties over the price, a court will
Answer:
determine a reasonable price
Question: Regional Products, Inc., agrees to sell to Quantity Dealers Corporation a certain amount of goods but
no mention is made of where the goods are to be delivered. In general, the UCC requires that the delivery take
place at
Answer:
Regional's place of business.
Question: Olivia visits Perfectly Fine Cars, an auto dealer, and says she wants a car that gets at least thirty
miles to the gallon. Quinn, a salesperson, recommends a Roadster, which he says gets "at least forty miles to the
gallon." This is
Answer:
an express warranty
Question: Smith Manufacturing Company makes and sells computers. In deciding whether the computers are
merchantable, a court would focus on whether
Answer:
the computers are fit for the ordinary purpose for which such goods are used.
, Question: Jewelry & Coin Company hires Kelly Ann to buy gems and precious metals from various sources on
its behalf. In this relationship, Jewelry & Coin is
Answer:
a principal
Question: Elaine owns the Fabric & Yarn store. Goldie is a salesperson in the store. When Goldie makes a sale
to Heather, the sale is binding on
Answer:
Elaine regardles of whether she knows aobut that particular sale.
Question: Home Enterprises employs Itzak to buy property for a possible residential development. Itzak
secretly buys some of the property and sells it to Home Enterprises at a profit. Itzak has breached
Answer:
the duty of loyalty
Question: Garry drives a truck as an employee for Heavy Hauling, Inc. Garry would most likely be considered
acting outside the scope of her employment if he
Answer:
crashed into a car at the airport while off duty
Question: Tina owns United Enterprises, a sole proprietorship. In a sole proprietorship, the liability of the
owner is
Answer:
unlimited
Question: Rick and Sandy are limited partners in Total Profit Enterprises, a limited partnership. A limited
partner has no right to
Answer:
participate in the firm's management.
Question: Custom Auto Body & Detailing, LLC, is a limited liability company. Unless indicated otherwise on
the Custom Auto's federal tax form, the firm will be taxed as
100% Verified Answers
Question: Fred enters into a contract to buy an air conditioner with Freeze Right AC Company. Part of the
contract included instillation of the AC unit. Freeze Right does not perform on the contract. Which of the
following is true?
Answer:
Fred (or a court) would look to the predominant factor test to see whether the UCC would cover the contract.
Question: A contract between Fresh Fruit Corporation and Green Grocer, Inc., requires Fresh Fruit to deliver
goods to Green Grocer's place of business in good condition. This is
Answer:
a destination contract
Question: Metro Daily and New City Newsstand enter into a contract under which Metro agrees to deliver a
certain quantity of newspapers to New City each day. The contract does not include a price term. In a suit
between the parties over the price, a court will
Answer:
determine a reasonable price
Question: Regional Products, Inc., agrees to sell to Quantity Dealers Corporation a certain amount of goods but
no mention is made of where the goods are to be delivered. In general, the UCC requires that the delivery take
place at
Answer:
Regional's place of business.
Question: Olivia visits Perfectly Fine Cars, an auto dealer, and says she wants a car that gets at least thirty
miles to the gallon. Quinn, a salesperson, recommends a Roadster, which he says gets "at least forty miles to the
gallon." This is
Answer:
an express warranty
Question: Smith Manufacturing Company makes and sells computers. In deciding whether the computers are
merchantable, a court would focus on whether
Answer:
the computers are fit for the ordinary purpose for which such goods are used.
, Question: Jewelry & Coin Company hires Kelly Ann to buy gems and precious metals from various sources on
its behalf. In this relationship, Jewelry & Coin is
Answer:
a principal
Question: Elaine owns the Fabric & Yarn store. Goldie is a salesperson in the store. When Goldie makes a sale
to Heather, the sale is binding on
Answer:
Elaine regardles of whether she knows aobut that particular sale.
Question: Home Enterprises employs Itzak to buy property for a possible residential development. Itzak
secretly buys some of the property and sells it to Home Enterprises at a profit. Itzak has breached
Answer:
the duty of loyalty
Question: Garry drives a truck as an employee for Heavy Hauling, Inc. Garry would most likely be considered
acting outside the scope of her employment if he
Answer:
crashed into a car at the airport while off duty
Question: Tina owns United Enterprises, a sole proprietorship. In a sole proprietorship, the liability of the
owner is
Answer:
unlimited
Question: Rick and Sandy are limited partners in Total Profit Enterprises, a limited partnership. A limited
partner has no right to
Answer:
participate in the firm's management.
Question: Custom Auto Body & Detailing, LLC, is a limited liability company. Unless indicated otherwise on
the Custom Auto's federal tax form, the firm will be taxed as
