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Business Contracts Flashcards | StudBud
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Business Contracts
Business Contracts
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UCC Article 2
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
Amy buys all the Yo-Yo's Bob can produce. This is a(n):
Requirements K
Unilateral K
Outputs K
Absolution K
2
Bob agrees to mow Amy's law 10 times, and offers no other terms. Is this K valid?
No
Yes
3
Bob and Amy are merchants. Bob offers to sell Amy 12 Yo-Yo's for $50. Amy says she agrees, but she wants $55. This is:
A Counteroffer and Acceptance
Acceptance
A Ridiculous Example Isaac, What's With All the Yo-Yo's
A Counteroffer
4
Bob is purchasing a hairdryer from a store. This contract will be governed by:
UCC Contracts
Resource Contracts
Common Law Contracts
Retail Contracts
5
Bob offers to sell Amy 10 YoYo's, and offers no other terms. Amy agrees. Is this K valid?
Yes
No
6
Bob buys a ticket to Seaworld. This K is governed by:
Requirements Contracts
UCC Contracts
Output Contracts
Common Law Contracts
7
Bob agrees to supply Amy all the Yo-Yo's that she needs for her business. This is a(n):
Requirements K
Unlimited K
Outputs K
Unilateral K
8
Bob offers to sell 200 Yo-yo's for $550 to Amy. Amy Agrees. Is this K enforceable?
Maybe: Reasonable Person Standard
No
Yes, always
Yes if in writing
9
Bob owns a used car company. Bob sends an email offering you a car for $500 until Friday. Can he revoke it before Friday
Yes; Right of Revocation
No; Unilateral K
No; Merchant's Firm Offer
Yes; Revocation can occur anytime before acceptance
10
Bob is moving into a home and paid $1400 for furniture and $300 for moving services. This K is governed by:
Rites of Goods
Common Law Contracts
UCC Contracts
Balance of Consideration