Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Chapter 16
Test Description: Questions from Chapter 16 Packet
Instructions: Answer all questions to get your test result.
1) Any person, innocent or knowingly, who buys stolen goods from a thief, receives title as well as possession.
A
False
B
True
2) For ownership of goods to be transferred in a sale, the goods must be either existing or identified
A
False
B
True
3) Ownership of goods brings with it a bundle of rights and benefits as well as related duties and burdens
A
True
B
False
4) Neither ownership nor risk of loss passes at the time of the contract for the sale of future goods.
A
False
B
True
5) By nature or trade usage, each fungible goods unit is regarded as equal to every other unit
A
False
B
True
6) Transfer of ownership of goods may be down by the owners and authorized persons, or
A
by buyers in a sale induced by fraud
B
by merchants with possession of sold goods
C
all of these
D
by holders of negotiable documents of title
7) A good-faith purchaser is one who
A
charges goods on the faith that the money will be provided
B
purchases materials for religious organizations
C
has innocently given value and acquired rights to goods with a voidable title
D
none of these
8) Goods, specifically designated as the subject matter of a particular sales contract, can be identified by
A
any of these
B
a mutually agreed-upon third party
C
the seller
D
the buyer
9) If the parties do not specify when the title is to pass, the court will
A
look to the UCC for a solution
B
determine if there are any applicable custom or usage in the particular trade that can settle the question
C
neither
D
both
10) Future goods are
A
window display items indicating what is to come
B
not both existing and identified
C
just ideas that haven't been formulated
D
none of these
11) Which of the following transactions merit special attention because of their frequency and unique rules?
A
sales of undivided interest
B
cash and carry sales
C
all of these
D
sales on credit and sales on approval
12) On COD sales,
A
the buyer has control of the goods upon placement of the order
B
the seller retains control over the goods until the price is paid
C
the carrier has control over the goods until delivery
D
none of these
13) In a COD transaction what right does the buyer lose?
A
the right to return damaged goods
B
the right of ownership and risk of loss
C
the right to inspect the goods before payment
D
none of these
14) Which of the following is an example of a fungible goods?
A
Texas paper shell pecans
B
an individually created hand-crafted piece of jewelry
C
both the pecans and eggs
D
grade A A eggs
15) Helena is ordering a wedding dress. She calls the company and gives them her measurements, the material type, color and delivery date she wants. The wedding dress is an example of a(n)
A
existing good
B
deliverable good
C
identified good
D
fungible good
16) Mei-yu purchases a leather briefcase on a 30-day trial basis. At the end of the trial she can pay for the item or return to seller. This type of transaction is known as
A
on satisfaction
B
sales on approval
C
neither
D
both
17) Melody purchases 20 crates of fabric. Because her store is small, the crates will be temporarily stored in a public warehouse. The public warehouse is an example of a(n)
A
cost, insurance, freight
B
free on board
C
tender of delivery
D
bailee
18) Brenden places a catalog order with Audrey of CLS International for 10 tapes. Audrey places the tapes in a box, contacts a deliver service, and places the goods at Brenden's disposal. This process is known as
A
bailee
B
cost, insurance, freight
C
tender of deliver
D
free onboard
19) CIF means
A
tender of delivery
B
free on board
C
cost insurance freight
D
bailee
20) FOB is a common shipping term used with commercial buyers and sellers. FOB means
A
tender of deliver
B
free on board
C
cost insurance freight
D
bailee
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?