FIN 370 Business Law 9.3 Final Exam

FIN 370 Business Law 9.3 Final Exam MGMT 390 Business Law 9.3 Final Exam Latest- Scored 96/100 9.3 - Final Exam This exam contains 25 questions. Questions on this exam will be presented one at a time. Question 1 4 / 4 pts A seller must use words such as "warrant" to make an express warranty. True False Question 2 4 / 4 pts Olga, a salesperson for Pre-owned Cars & Trucks, Inc., tells Quincy, "This is the best car I've ever seen." This statement is an express warranty. an implied warranty. a warranty of title. puffing. Question 3 4 / 4 pts Over the course of a year, Real Deal Corporation sells appliances to customers to whom it extends credit. Real Deal orders the appliances from Superior Appliance Company's warehouse, from which the items are shipped via common carrier to Real Deal's customers. Article 2 of the UCC governs all of the parties' sales of the goods. Real Deal's extension of credit. Superior's storage of the goods. the common carrier's delivery of the goods. Question 4 4 / 4 pts In a dispute over a sale involving a bicycle, Dain argues that as to this deal Elle's Hobby Shop, where Dain bought the bike, is a merchant. A court may determine whether Elle's is a merchant by assessing whether it has sold any bikes within the last year. it holds itself out by occupation as having knowledge or skill unique to the bike in the transaction. its owner enjoys biking. it subscribes to Bike, a biweekly trade magazine. Question 5 4 / 4 pts Generally, the funds represented by a deposited local check must be available for withdrawal the same business day. True False Question 6 4 / 4 pts Clyde issues a check payable to Discount Mart. Elle, Discount's cashier, forges the store's indorsement and deposits thecheck in her bank account. Clyde's bank, First State Bank, pays the check. Clyde can recover from Elle, but not First State Bank. First State Bank, which cannot recover from Elle. First State Bank, which can recover from Elle. no one. Question 7 4 / 4 pts A stale check is one that has been outstanding for longer than one month. True False Question 8 Not yet graded / 4 pts Your Answer: Sara needs $1,513 to buy textbooks and other school supplies. Tomas agrees to loan Sara $1,513, accepting as collateral Tomas's car. They put their agreement in writing and sign it. Sara keeps possession of the car. Does Tomas have an enforceable security interest? How can Tomas let other creditors know of his interest in the car?