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Chapter 15 Packet
Test Description: Study Guide
Instructions: Answer all questions to get your test result.
1) A contract in which ownership of(title to) goods transfers immediately from the seller to the buyer for a price is a contract to sell.
A
true
B
false
2) When parties exchange goods for goods, the sale is a barter
A
True
B
False
3) By the UCC definition, all money and tangible(touchable), movable, personal property are goods.
A
True
B
False
4) Contracts of adhesion are more likely to be unconscionable
A
False
B
True
5) When ownership transfers from one party to another, so do benefits and burdens
A
True
B
False
6) Consideration for a sale or contract to sell goods may be expressed in
A
barter
B
services
C
price
D
all of these
7) According to the UCC, goods do not include
A
dogs
B
patents and copyrights
C
books and clothing
D
all of these
8) Acceptance of goods occurs when
A
the buyer fails to reject the goods within a reasonable length of time
B
the buyer has agreed by words or conduct that the goods received are satisfactory
C
all of these
D
the goods are used or resold
9) When payment for goods takes place at a later date, the transfer of title takes place when
A
the buyer selects and agrees to buy the goods in the seller's store
B
the goods are accepted by the buyer
C
delivery is made
D
the final payment is made
10) Unconscionable contracts are
A
criminal in nature
B
null and void
C
all of these
D
unethical
11) Ownership of goods does not exempt one from
A
taxes
B
limited freedom of use by governmental regulations
C
liability from resulting torts for improper care
D
all of these
12) What usually governs the sales of goods?
A
statute of frauds
B
Bill of Sale
C
Uniform Commercial Code
D
none of these
13) After Shawn purchases a fridge the appliance store provides Shawn with written evidence of the transfer of the refrigerator from the appliance store to her. This receipt is known as a(n)
A
sales contract
B
none of these
C
bill of sale
D
agreement of sale
*select an answer for all questions
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