Chapter 15 Question Preview (ID: 20809)
Questions From Chapter 15 Packet.
TEACHERS: click here for quick copy question ID numbers.
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
c)
d)
When parties exchange goods for goods, the sale is a barter
a) True
b) False
c)
d)
The Uniform Commercial Code governs sales of goods and contracts to sell goods in the future
a) True
b) False
c)
d)
By UCC definition, all money and tangible (touchable), movable, personal property are goods.
a) True
b) False
c)
d)
The bill of sale is absolute proof of ownership
a) True
b) False
c)
d)
Contracts of adhesion are more likely to be unconscionable
a) True
b) False
c)
d)
When ownership transfers from one party to another, so do benefits and burdens.
a) True
b) False
c)
d)
Consideration for a sale or contract to sell goods may be expressed in
a) barter
b) price
c) services
d) all of these
According to the UCC, goods do not include,
a) books and clothing
b) dogs
c) patents and copyrights
d) all of these
Acceptance of goods occurs when
a) the goods are used or resold
b) the buyer has agreed by words or conduct that the goods received are satisfactory
c) the buyer fails to reject the goods within a reasonable length of time
d) all of these
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
Unconscionable contracts are
a) criminal in nature
b) null and void
c) unethical
d) all of these
Ownership of goods does not exempt one from
a) liability from resulting torts for improper care
b) limited freedom of use by governmental regulations
c) taxes
d) all of these
What usually governs the sales of goods
a) statute of frauds
b) Uniform Commercial Code
c) Bill of Sale
d) none of these
According to Uniform Commercial Code definition, which of the following would not be considered a good
a) money
b) articles of clothing
c) rare, collectible coins
d) none of these
Lewis manufactures hand-made wooden baby chairs, while Doyle manufactures small wooden children's desks. The two enter into an agreement in which they exchange goods for goods. This type of sale is known as a(n)
a) barter
b) sale
c) goods
d) unconscionable
Roger offers to sell three of his full-bred dachshunds for $200 a piece to his neighbor, Bob. Bob gives Roger $600 and ownership of these dogs is immediately transferred to Bob. This contract or transaction is known as a(n)
a) sale
b) barter
c) goods
d) unconscionable
Movable , touchable, personal property such as a file cabinet, desk, or carpet is known as a(n)
a) goods
b) barter
c) sale
d) unconscionable
A contract or clause within a contract that is grossly unfair and oppressive is said to be
a) unconscionable
b) barter
c) sale
d) goods
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