Buisness law final

What Article of the UCC governs the sale of goods?

• Article 2

•   Article 3

   

• Article 1

•   Article 5

Article 2 governs personal property and real property. True or False?

• False

•   True

Article 2A applies to the lease of goods. True or False?

• True

•   False

Shipment of conforming goods may be used or communicated as acceptance. True or False?

• True

•   False

A prompt shipment of nonconforming goods prompts both ___________ and ____________.

• acceptance; breach

• promise; accommodation

   

• law; fines

   

• fines; closure of business

he UCC requires no additional _________ which is different from common law.

• consideration

•   money

•   writing

•   contract

What is required for modification?

• writing

•   money

•   phone call

•   statute

Writing requirement is governed by the ______________.

• statute of fraud

•   congress

   

• executive branch

•   judges

Writing is required if the sale of goods is for $500 or more. True or False?

• True

•   False

The Perfect Tender Rule says the buyer/lessee may do what?

• all of these

   

• accept the goods

   

• reject the entire shipment

   

• accept part and reject part