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Multiple Choice Quiz
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1
The Uniform Commercial Code (UCC) has been adopted by __________ states.
A)All fifty (50)
B)Forty-nine (49)
C)Thirty-five (35)
D)Twenty-seven (27)
2
Article 2 of the Uniform Commercial Code (UCC) governs __________ contracts, while Article 2(A) governs __________ contracts.
A)Lease; sales
B)Sales; lease
C)Service; sale of goods
D)Sale of goods; service
3
A __________ consists of the passing of title from the seller to the buyer for a price.
A)Lease
B)Gift
C)Sale
D)None of the above
4
Uniform Commercial Code (UCC) Section 2-105 defines __________ as "all (tangible) things...which are movable at the time of identification to the contract for sale."
A)Goods
B)Services
C)Fixtures
D)A. and B.
5
To resolve contract issues in cases in which a tangible good is mixed with something intangible (example: a service,) most states employ some variation of the __________ test.
A)User-friendly
B)Predominant-purpose
C)Substantial performance
D)Commercial impracticability
6
All but which of the following factors is an indication of "merchant" status?
A)The party typically deals in the kinds of goods involved in the sales contract
B)The party is a casual seller
C)The party, by occupation, represents him/herself as having knowledge and skill unique to the practices or goods involved in the transaction
D)The party in question has employed a broker, agent, or other intermediary
7
A __________ is a person who transfers the right to possession and use of goods under a lease.
A)Seller
B)Lessor
C)Lessee
D)Settlor
8
A __________ is a person who acquires the right to possession and use of goods under a lease.
A)Buyer
B)Lessor
C)Lessee
D)Settler
9
Under the UCC, contracts for the sale of goods must be in writing if they are valued at __________ or more.
A)$50
B)$500
C)$5,000
D)None of the above
10
Under the UCC, a contract involving which of the following goods is an exception to the statute of frauds writing requirement?
A)Specifically manufactured goods
B)Generically manufactured goods
C)Non-specifically manufactured goods
D)Traditional goods





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