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8.E: Assessment Questions

  • Page ID
    30211
    1. What is a sales contract?
    1. All of the following are features of sales contracts except:
      1. Consensual.
      2. Bilateral.
      3. Cumulative.
      4. Principal.
    2. What source of law governs sales contracts?
      1. Common Law.
      2. The Uniform Commercial Code.
      3. Statutory Law.
      4. Federal Law.
    3. What is the definition of a good?
    4. Distinguish a shipment contract from a destination contract.
    5. What is a warranty in a sales contract?
    6. Describe the difference between an express and implied warranty.
    7. Examples of a defect in a breach of the implied warranty of merchantability, include all of the following except:
      1. Design defect.
      2. Manufacturing defect.
      3. Inadequate instructions.
      4. Product defect.
    8. The following are possible remedies to buyers under the UCC:
      1. Cancel the contract.
      2. Obtain Cover.
      3. Sue.
      4. All of the above.
    9. What is a breach of warranty?

     

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