BL CH 13 & 14 Test Review

The Uniform Commercial Code (UCC) does not govern contracts to sell goods in the future.

• TRUE

• FALSE

If the buyer has had adequate opportunity to inspect the goods, acceptance may be indicated by a failure to reject them within a reasonable time.

• TRUE

• FALSE

The bill of sale serves as written evidence of the transfer of ownership of goods.

• TRUE

• FALSE

Unless prohibited by the terms of the sale, the seller may identify the goods as the subject matter of a particular sales contract.

• TRUE

• FALSE

Any person who innocently buys stolen goods from a thief receives title as well as possession.

• TRUE

• FALSE

When parties exchange goods for goods, the sale is a barter.

• TRUE

• FALSE

When a bulk transfer is made, the UCC requires notice be given to the buyer's creditors.

• TRUE

• FALSE

In both sales and contracts to sell, the seller is known as the vendee.

• TRUE

• FALSE

Casual sellers are also considered merchants.

• TRUE

• FALSE

When both parties are merchants, a new term inserted by the offeree automatically becomes part of the contract if the offeror fails to object within a reasonable time.

• TRUE

• FALSE