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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
false
B
true
2) When parties exchange goods for goods, the sale is a barter
A
False
B
True
3) By the UCC definition, all money and tangible(touchable), movable, personal property are goods.
A
False
B
True
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
False
B
True
6) Consideration for a sale or contract to sell goods may be expressed in
A
barter
B
all of these
C
services
D
price
7) According to the UCC, goods do not include
A
books and clothing
B
dogs
C
patents and copyrights
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 goods are accepted by the buyer
B
delivery is made
C
the final payment is made
D
the buyer selects and agrees to buy the goods in the seller's store
10) Unconscionable contracts are
A
null and void
B
criminal in nature
C
unethical
D
all of these
11) Ownership of goods does not exempt one from
A
limited freedom of use by governmental regulations
B
taxes
C
all of these
D
liability from resulting torts for improper care
12) What usually governs the sales of goods?
A
Uniform Commercial Code
B
statute of frauds
C
Bill of Sale
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
none of these
B
sales contract
C
agreement of sale
D
bill of sale
*select an answer for all questions
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