BUSINESS LAW 2, TEST 2 PRACTICE
QUESTIONS, BUL 3320 CHAPTER 42
(REAL PROPERTY AND LANDLORD-
TENANT LAW), QUIZ 5 BUSINESS
LAW & THE LEGAL ENVIRONMENT
QUESTIONS AND ANSWERS
The Uniform Commercial Code (UCC) attempt to provide: - Correct Answers -a
framework of rules to deal with all aspects of commercial sales transactions.
The Uniform Commercial Code has been adopted by: - Correct Answers -all of the
states in whole or in part.
A _____ is the entity hiring the one who transports the goods. - Correct Answers -
shipper
A _____ is defined by the Uniform Commercial Code as a person engaged in the
business of storing goods for hire. - Correct Answers -warehouser
Which of the following is true of a gift inter vivos? - Correct Answers -It is made between
living persons without conditions attached.
Bill purchased a plot of land for which the deed states that the grantor transfers the
property "to grantee and his or her heirs". This would have the legal effect of creating
a(n) _____. - Correct Answers -fee simple absolute
Article 2 of the UCC governs _______ . - Correct Answers -contracts for the sale of
goods
, 1. The UCC attempts to provide a consistent and integrated framework of rules to deal
with all phases _______ in a commercial sales transaction from start to finish. - Correct
Answers -ordinarily arising
The common law of contracts and the Uniform Commercial Code are exactly the same.
- Correct Answers -False
The Two Points to Keep in Mind Regarding Article 2 of the UCC: - Correct Answers -A.
Article 2 deals with the sale of goods. It does not deal with real property (real estate),
services, or intangible property such as stocks and bonds. Thus, if the subject matter of
a dispute is goods, the UCC governs. If it is real estate or services, the common law
applies.
B. a. In some situations, the rules can vary depending on whether the buyer or the seller
is a merchant.
Sales Contract - Correct Answers -A contract for the sale of goods under which the
ownership of goods is transferred from a seller to a buyer for a price.
Sale - Correct Answers -The passing of title (evidence of ownership rights) from the
seller to the buyer for a price.
Tangible Property - Correct Answers -Property that has physical existence and can be
distinguished by the senses of touch, sight, and so on. A car is tangible property.
Intangible Property - Correct Answers -Property that is incapable of being apprehended
by the senses (such as by sight or touch); intellectual property is an example of
intangible property.
Predominant-Factor Test - Correct Answers -A test courts use to determine whether a
contract is primarily for the sale of goods or for the sale of services.
Merchant - Correct Answers -A person who is engaged in the purchase and sale of
goods. Under the Uniform Commercial Code, a person who deals in goods of the kind
involved in the sales contract.
In order for the rules contained in the UCC to apply to a contract for the sale of goods,
the goods must be ________ . - Correct Answers -be tangible (have physical existence
In contracts that involve the sale of both goods and services, once a court decides that
such a contract is primarily a goods contract, any dispute, even over the services
portion, will be decided under the UCC. - Correct Answers -True
A merchant is a person who deals in goods of the kind ________ in the sales contract. -
Correct Answers -Involved
QUESTIONS, BUL 3320 CHAPTER 42
(REAL PROPERTY AND LANDLORD-
TENANT LAW), QUIZ 5 BUSINESS
LAW & THE LEGAL ENVIRONMENT
QUESTIONS AND ANSWERS
The Uniform Commercial Code (UCC) attempt to provide: - Correct Answers -a
framework of rules to deal with all aspects of commercial sales transactions.
The Uniform Commercial Code has been adopted by: - Correct Answers -all of the
states in whole or in part.
A _____ is the entity hiring the one who transports the goods. - Correct Answers -
shipper
A _____ is defined by the Uniform Commercial Code as a person engaged in the
business of storing goods for hire. - Correct Answers -warehouser
Which of the following is true of a gift inter vivos? - Correct Answers -It is made between
living persons without conditions attached.
Bill purchased a plot of land for which the deed states that the grantor transfers the
property "to grantee and his or her heirs". This would have the legal effect of creating
a(n) _____. - Correct Answers -fee simple absolute
Article 2 of the UCC governs _______ . - Correct Answers -contracts for the sale of
goods
, 1. The UCC attempts to provide a consistent and integrated framework of rules to deal
with all phases _______ in a commercial sales transaction from start to finish. - Correct
Answers -ordinarily arising
The common law of contracts and the Uniform Commercial Code are exactly the same.
- Correct Answers -False
The Two Points to Keep in Mind Regarding Article 2 of the UCC: - Correct Answers -A.
Article 2 deals with the sale of goods. It does not deal with real property (real estate),
services, or intangible property such as stocks and bonds. Thus, if the subject matter of
a dispute is goods, the UCC governs. If it is real estate or services, the common law
applies.
B. a. In some situations, the rules can vary depending on whether the buyer or the seller
is a merchant.
Sales Contract - Correct Answers -A contract for the sale of goods under which the
ownership of goods is transferred from a seller to a buyer for a price.
Sale - Correct Answers -The passing of title (evidence of ownership rights) from the
seller to the buyer for a price.
Tangible Property - Correct Answers -Property that has physical existence and can be
distinguished by the senses of touch, sight, and so on. A car is tangible property.
Intangible Property - Correct Answers -Property that is incapable of being apprehended
by the senses (such as by sight or touch); intellectual property is an example of
intangible property.
Predominant-Factor Test - Correct Answers -A test courts use to determine whether a
contract is primarily for the sale of goods or for the sale of services.
Merchant - Correct Answers -A person who is engaged in the purchase and sale of
goods. Under the Uniform Commercial Code, a person who deals in goods of the kind
involved in the sales contract.
In order for the rules contained in the UCC to apply to a contract for the sale of goods,
the goods must be ________ . - Correct Answers -be tangible (have physical existence
In contracts that involve the sale of both goods and services, once a court decides that
such a contract is primarily a goods contract, any dispute, even over the services
portion, will be decided under the UCC. - Correct Answers -True
A merchant is a person who deals in goods of the kind ________ in the sales contract. -
Correct Answers -Involved
