Article the ucc regarding sales of goods applies to tangible

Assignment Help Business Law and Ethics

Reference no: EM133312728

Assignment:

1. Consequential damages are special damages for a loss that is not the direct or immediate result of a breach of contract. To recover consequential damages, the non-breaching party must provide evidence that ____________.

a. the maximum amount of consequential damages payable was specifically listed in the contract

b. the damages were foreseeable

c. the breaching party knew of the special circumstances giving rise to the consequential damages

d. both the maximum amount of consequential damages payable was specifically listed in the contract and the breaching e.party knew of the special circumstances giving rise to the consequential damages

2. Courts will enforce contract clauses that include liquidated damages as a remedy even if the court finds the contract clause was structured as a penalty for breach of contract. T/F

3. A(n) _______________ is a provision in a contract stating that no damages can be recovered.

a. limitation of liability clause

b. mitigation of damages clause

c. exculpatory clause

d. rescission

4. Article 2 of the UCC regarding sales of goods applies to tangible and movable property, but only if both parties are merchants. T/F

5. Some examples of open terms that a court can fill in under UCC rules include ________________.

a. quantity, price, and duration

b. quantity, payment, and delivery

c. price and payment

d. all of the above

6. Under the UCC, a merchant can make a firm offer, without consideration, that is irrevocable for a reasonable (or stated) period of time so long as the option is in writing and signed by the offeror. T/F

7. The UCC keeps the common law mirror image rule, which means that any changes to a contract are treated as a rejection of the contract and a counter-offer. T/F

8. The UCC replaced the common law concept of title with the following concept(s): __________________.

a. identification

b. passage of title

c. risk of loss

d. insurable interest

e. all of the above

9. In a UCC contract, either the seller or the buyer can insure the goods, but the seller and the buyer cannot simultaneously insure the goods. T/F

Reference no: EM133312728

Questions Cloud

Systems development life cycle : Discuss what happens in each of the steps in the systems development life cycle? How would a change in business plans effect the SDLC?

How does this non-brass area affect the time constant : Compare your h to those determined from the published Nu equation. Your values may be lower (or higher). What could cause this and why?

Explain how west africa was connected to places : Explain how West Africa was connected to places across the world like Rome and even China. How can the Crusades be considered the good, bad, and ugly

Comment on the documentary hard times : Comment on the documentary Hard Times: 1929-1940 after watching this documentary what you understand, your own ideas that you get after watching hard time

Article the ucc regarding sales of goods applies to tangible : Article 2 of the UCC regarding sales of goods applies to tangible and movable property, but only if both parties are merchants.

Schultz in trying to manage the resistance to change : Identify the type of change that took place in Vodafone. Discuss ONE best approach can be used by Schultz in trying to manage the resistance to change.

What do you think is corporate culture effect on employees : What do you think is the corporate culture's effect on employees' motivation? keyword: hierarchy, belongingness, google, satisfaction.

What narrative does it tell? why is this kind of narrative : What narrative does it tell? Why is this kind of narrative important to our understanding of human-environmental interaction

How did david pelham interpreted this cats cradle cover : How did David Pelham interpreted this cats cradle cover by utilizing high-brow, mid-brow, or low-brow expression of graphic design? What type of graphic design

User Account

All Pages