ACC 480 Exam 2 Questions And Answers 100% Verified

ACC 480 Exam 2 Questions And Answers 100% Verified Nina pays Omega Sales Corporation $1,500 for an LCD HD-TV. Under the UCC, this is a. a bailment b. a consignment c. a lease d. a sale - answerA sale Super Electronics, Inc., sells computers, and some computer accessories, to persons who order them. Super is a merchant with respect to a. computer accessories only b. computers and computer accessories c. computers only d. none of the choices - answerComputers and computer accessories MediQuip Corporation and Clean Products, Inc., enter into a contract for a sale of goods that doesn't include a price term. In a suit between MediQuip and Clean over this contract and the price, a court will a. determine a reasonable price b. impose the lowest market price for the goods c. refuse to enforce the agreement d. return the parties to the positions they held before the contract - answerdetermine a reasonable price Builders Supply Company sells two construction cranes to Contractor's, Inc., which leases one crane to Design Worx Corporation and gives the other to Equipment, Inc. Article 2A of the UCC applies to a. the gift. b. the lease. c. the sale. d. the gift, the lease, and the sale. - answerthe lease only Regal Boots Inc., and Star Shoe Company orally agree to a sale of 100 pair of hiking boots for $5,000. Regal gives Star a check for $500 a down payment. At this point, the contract is a. enforceable to at least the extent of $500 b. fully enforceable because it is for specially made goods c. fully enforceable because it is oral d. unenforceable - answerenforceable to at least the extent of $500 Mall Stores Corporation sends its purchase order form to Neat Displays, Inc. for shelving. Neat responds with its own form. Additional terms in Neat's form automatically become part of the parties' contract a. under any circumstances b. under no circumstances c. unless Mall objects to the new terms within a reasonable period of time d. unless Neat indicates otherwise before shipping the goods - answerunless Mall objects to the new term within a reasonable period of time Gia and Hugh dispute the interpretation of an ambiguous clause in their contract. In a suit to determine the meaning of the clause, the court may accept evidence of a. consistent additional terms only b. consistent additional terms and contradictory terms c. contradictory terms only d. anything extrinsic to the contract - answerconsistent to additional terms only Eagle Products, Inc., assures Fine Retail Corporation that its offer to sell its products at a certain price will remain open. This is a firm offer only if a. Fine (the offeree) gives consideration for the offer b. Fine (the offeror) is a merchant c. the offer is made by Eagle (a merchant) in a signed writing d. the offer states the time period during which it will remain open - answerthe offer is made by Eagle (a merchant) in a signed writing Kelly enters a contract with Liberty Appliances, Inc. In a later suit, Kelly claims that a clause in the contract is unconscionable. If the court agrees, it may a. enforce, limit, or refuse to enforce the contract or the disputed clause. b. enforce the contract without the disputed clause only. c. limit the application of the disputed clause only. d. refuse to enforce the contract only. - answerenforce, limit, or refuse to enforce the contract or the disputed clause Mac's Service Station agrees to buy an unspecified quantity of ethanol from NuFuel Corporation. NuFuel breaches the contract. Mac's can most likely a. enforce the agreement to the amount of a reasonable quantity. b. enforce the agreement to the amount of Mac's requirements for ethanol. c. enforce the agreement to the amount of NuFuel's output of ethanol. d. not enforce the agreement. - answernot enforce the agreement Starbucks and XYZ would have an enforceable contract even if they did not state in writing a. the amount of coffee ordered b. the price of the coffee c. both a and b d. none of the above - answerthe price of the coffee If Starbucks and XYZ did not include a "DESCRIPTION" of the coffee as "high grown Mexican Altura", then the delivered coffee must meet a. Starbucks subjective expectations of their quality