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Multiple Choice Quiz
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1
Under the Uniform Commercial Code (UCC), sellers and lessors are obligated to transfer and deliver __________ goods.
A)Conditional
B)Collaborative
C)Conforming
D)Custom
2
Good faith means __________ in fact.
A)Knowledge
B)Established
C)Honesty
D)Politeness
3
Uniform Commercial Code (UCC) Sections 2-503(1) and 2A-508(1) state that __________ of delivery requires that the seller/lessor have and hold conforming goods at the disposal of the buyer/lessee and give the buyer/lessee reasonable notification to enable him or her to take delivery.
A)Offer
B)Acceptance
C)Manifestation
D)Tender
4
The Uniform Commercial Code (UCC) and the common law differ in terms of tender of delivery, with the UCC requiring __________, and the common law requiring the lesser standard of __________.
A)Perfect tender; substantial performance
B)Substantial performance; perfect tender
C)Unconditional tender; conditional performance
D)Conditional performance; unconditional tender
5
__________ refers to the history of dealings between the parties involved in the present contract.
A)Course of performance
B)Usage of trade
C)Empirical accord
D)Accord and satisfaction
6
The seller's right to repair, adjust, or replace defective or non-conforming goods, as long as it gives prompt notice of the intent to cure and in fact cures within the contract time for performance, is known as the right to __________.
A)Rehabilitate
B)Remedy
C)Cure
D)Compensate
7
Under the UCC, the buyer who has accepted goods may later revoke acceptance only if the buyer can show that the defects __________ impair the value of the goods.
A)Inconveniently
B)Irreconcilably
C)Substantially
D)Circumstantially
8
Which rule/doctrine would be relevant if a change in government regulation that neither party contemplated forbids the import or export of a particular item the parties had agreed would be shipped?
A)Commercial impracticability
B)Commercial inconvenience
C)Commercial impossibility
D)Commercial innocence
9
Under the UCC, the seller can presume acceptance if the buyer fails to __________ the goods within a reasonable time.
A)Revoke
B)Rehabilitate
C)Reject
D)Remonstrate
10
__________ is defined by the UCC as any practice that members of an industry expect to be part of their dealings.
A)Usage of trade
B)Course of dealings
C)Commercial reasonableness
D)Commercial practicality





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