JURI 570 Quiz Agency and Sales
Module 3: Week 3 — Module 4: Week 4.
- The word “merchantability” must be mentioned in a disclaimer of an implied warranty of merchantability.
- Karen decided to sell her stair step exercise machine, because she wasn’t using it as much as she thought she would. Her friend Lydia bought it from Karen for $100. If the first day that Lydia used the stair stepper it fell apart, injuring Lydia’s ankle:
- Which of the following is correct with regard to the capacity of an agent?
- A, a wholesale distributor, sells to B, a retail dealer, a set of defective tires manufactured by X, a reputable manufacturer. Both A and B believed the tires to be in perfect condition, although neither party has inspected the tires. C purchases the tires from B and is injured because the defective tires blew out. Who, if anyone, is liable to C in strict liability?
- An agency contract appointing the agent for a period of more than one year does not have to be in writing.
- The firm offer provision in Articles 2 and 2A of the UCC covers only merchant sellers.
- Which of the following is NOT a major duty which the agent owes to his principal?
- Which of the following is correct with respect to finance leases?
- J & J Co. offers a “subscription” for baby toys to be delivered every two months from the birth of a child. Payment must be made within two weeks of delivery. The Markham family accepted the J & J plan when their son, Timmy, was born. When Timmy was four months old, one J & J toy arrived, smashed to pieces. Markham:
- The seller’s tender of performance does not have to conform to the Code’s perfect tender rule.
- If destruction or casualty to goods, total or partial, occurs after risk of loss has passed to the buyer, who is responsible for losses?
- Richard owns and operates a small business at an outdoor market where he sells fruits and vegetables. What does the UCC specifically require of Richard with respect to his customers?
- In which of the following situations does the seller have the right to cure?
- Under the Third Restatement, an agent who represents an undisclosed principal is discharged from liability if:
- A company may be considered insolvent under the Code if it is unable to pay its debts as they come due.
- Under the Second Restatement, which of the following is correct with regard to a contract entered into with a third person by an agent of an undisclosed principal?
- Product liability exists if the:
- If Andrews Manufacturing Company has repudiated its contract to sell 500 computers to a retailer, the retailer:
- Which of the following would be considered consequential damages?
- The fair market value of a 10-foot fishing boat is $1,000. In a special promotion, J’s Marina purchases a 10-foot fishing boat for $900. The boat is badly scratched when it arrives. J’s Marina, however, accepts the shipment and notifies the seller of the defect. The boat as delivered has a value of $800. If the damaged boat is a breach of warranty by the seller, the buyer may recover from the seller:
- Pedro ordered a custom-made suit from Rooks & Sons to be delivered by Friday at 5 p.m. When it is delivered to his office on Friday afternoon, he is in conference with a client. His secretary hangs the suit in the office closet. When Pedro tries on the suit Saturday evening, he discovers that the pants are cuffed. He had ordered cuffless trousers, so he called Rooks & Sons on Monday and informed them that he was returning the suit. What can he do?
- Taylor agrees to sell Pedro goods for $2,000. The value of the goods accepted is $1,500. If the goods had been as warranted, their value would have been $2,600. What are the buyer’s damages for breach of warranty?
- All of the following except which one is a duty of an agent?
- Which of the following is not a factor used to determine whether an agent is an employee or an independent contractor?
- Amanco is to deliver to D & R Wholesalers 50 dozen wire-rim glasses frames by October 15. On October 2, Amanco delivers 30 dozen wire-rim frames and 20 dozen plastic frames. If D & R rejects the frames:
- Under the Code, damages have to be “calculable with mathematical precision.”
- Tom breached a contract he had with Jim. In addition to other remedies available, Jim may be able to recover commercially reasonable expenses incurred as a result of the breach. These expenses are:
- Under what circumstances may the buyer seek the remedy of replevin?
- Upon the termination of an agency, the agent’s actual authority ceases. However, his apparent authority may continue until actual notice of the termination is given to third parties.
- Damages a buyer may recover for loss resulting from requirements, the needs of which the seller had reason to know at the time of contracting and which could not reasonably be prevented by cover, are:
- Which of the following remedies is available to the seller or manufacturer of goods upon a breach by buyer by repudiation of the contract?
- Which of the following may terminate an agency agreement by operation of law?
- Who among the following is most likely not considered a merchant according to Article 2 of the UCC?
- When there was a contract with a previously undisclosed principal, the Third Restatement:
- Trudy would breach the duty to inform if she failed to tell her principal:
- Jack was fired by Larry but decided to try to win back his job as agent by getting a big new contract. He approached Sharon, a new client, and made a pitch to sell Larry’s product. Sharon agreed to buy 100. Jack tells Larry. What are the legal consequences?
- In a partnership, each partner is an agent of the partnership.
- Under the CISG, if the buyer fails to perform any obligations, the seller may:
- Which of the following remedies are available to either a buyer or seller following a breach by the other party?
- Perry is building his house and orders a hot water heater from Jones Co. to be installed by them. The hot water heater they sent has a 45-gallon capacity when Perry ordered a 60-gallon capacity. Jones cannot provide a 60-gallon heater for two months, so Perry cancels the contract and gets a heater from Stosill’s. Jones Co. says it must be allowed to install the heater purchased from Stosill’s. What result?
- All employees are agents, but not all agents are employees.
- Everett is an accountant for a major accounting firm. One day at work, he is discussing his collection of rare coins with one of his co-workers. Everett tells his co-worker that he keeps his collection at home and that he has recently purchased several Chinese gold Panda coins at an exceptional price. The co-worker expresses an interest in buying two of the coins at a price of $250, and a contract is duly formed. If no place for delivery is expressed, where are the coins to be delivered?
- After a breach by the seller, buyer may replevy the goods that have been identified to the contract if:
- A seller’s incidental damages for a buyer’s breach would include all but the cost to:
- An agent is not required to keep which of the following information confidential?
- Fitness for a particular purpose and merchantability are implied warranties that apply only to sales by merchants.
- In the absence of agreement, payment is due at the time and place the buyer is to receive the goods, even though the place of shipment is the place of delivery.
- Roy is the promoter of a new corporation that has not yet been organized. On behalf of the as-yet unincorporated business, he enters into a three-year lease agreement for office space and personally signs the lease in his own name. The corporation is liable on the contract, because Roy is its agent.
- Implied warranties under the Code:
- If the buyer is insolvent and has not paid for goods received, the seller may reclaim the goods.