CBAD 345 Exam #1 – Questions With Precise Solutions
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Terms in this set (21)
If a contract for a sale of goods FALSE: If a contract does not include a quantity term, there is no
does not include a quantity contract. In a requirements contract, the buyer agrees to
term, it is a requirements purchase and the seller agrees to sell all or up to a stated
contract. amount of what the buyer needs or requires.
named port of destination - risk of loss or damage of goods is
CIF (cost, insurance, freight)
transferred to buyer once goods have passed the ship's rail
Unless the contract provides Shipment contract
otherwise, what is the place of
delivery assumed to be?
Under a shipment contract, the TRUE: Under a shipment contract, the risk of loss passes to the
risk of loss passes to the buyer buyer when the seller places conforming goods in the
when the seller places possession of the carrier.
conforming goods in the
possession of the carrier.
Johnny, Inc., a Korean Have an invalid contract
corporation, offered to sell J-
Materials Inc a 500 forklifts.
The contract was silent on the
price of the forklifts.
The parties:
Blend Juice Company contracts In a sale that involves crops that are to be harvested the next
to buy a fruit crop from Citrus harvest season occurring after the contracting, identification
Farms. Before an interest in the takes place when the crops are planted.
fruit can pass from Citrus to
Blend, Citrus must:
In effect, the United Nations TRUE: Article 19 of the CISG provides that a contract can be
Convention on Contracts for the formed even though the acceptance contains additional terms,
International Sale of Goods unless the additional terms materially alter the contract. Under
requires that the terms of the the CISG, however, a material alteration includes almost any
acceptance mirror those of the change in a term. In effect, the CISG requires that the terms of
offer. the acceptance mirror those of the offer.
Under the UCC, a contract for a FALSE
sale of goods that includes
open terms is void.
A seller can never have an FALSE: Even after title passes to the buyer, a seller who has a
insurable interest in goods after security interest in the goods still has an insurable interest.
title passes to the buyer.
An automobile lease provided Article 2A of the UCC.
by a dealer is governed by:
Save
Students also studied
Perio Study DENT 475 - Implant components NBDE II Review - Pro
Teacher 78 terms 42 terms 69 terms
Hunter_Charters Preview gillphil Preview melissa_jarvis7
Terms in this set (21)
If a contract for a sale of goods FALSE: If a contract does not include a quantity term, there is no
does not include a quantity contract. In a requirements contract, the buyer agrees to
term, it is a requirements purchase and the seller agrees to sell all or up to a stated
contract. amount of what the buyer needs or requires.
named port of destination - risk of loss or damage of goods is
CIF (cost, insurance, freight)
transferred to buyer once goods have passed the ship's rail
Unless the contract provides Shipment contract
otherwise, what is the place of
delivery assumed to be?
Under a shipment contract, the TRUE: Under a shipment contract, the risk of loss passes to the
risk of loss passes to the buyer buyer when the seller places conforming goods in the
when the seller places possession of the carrier.
conforming goods in the
possession of the carrier.
Johnny, Inc., a Korean Have an invalid contract
corporation, offered to sell J-
Materials Inc a 500 forklifts.
The contract was silent on the
price of the forklifts.
The parties:
Blend Juice Company contracts In a sale that involves crops that are to be harvested the next
to buy a fruit crop from Citrus harvest season occurring after the contracting, identification
Farms. Before an interest in the takes place when the crops are planted.
fruit can pass from Citrus to
Blend, Citrus must:
In effect, the United Nations TRUE: Article 19 of the CISG provides that a contract can be
Convention on Contracts for the formed even though the acceptance contains additional terms,
International Sale of Goods unless the additional terms materially alter the contract. Under
requires that the terms of the the CISG, however, a material alteration includes almost any
acceptance mirror those of the change in a term. In effect, the CISG requires that the terms of
offer. the acceptance mirror those of the offer.
Under the UCC, a contract for a FALSE
sale of goods that includes
open terms is void.
A seller can never have an FALSE: Even after title passes to the buyer, a seller who has a
insurable interest in goods after security interest in the goods still has an insurable interest.
title passes to the buyer.
An automobile lease provided Article 2A of the UCC.
by a dealer is governed by:
