This UCC quiz for MGT 225 covers key aspects of the Uniform Commercial Code, focusing on sales and lease contracts, merchant status, and contract requirements for goods.
Notes, certificates of deposit, drafts, and checks
Notes, certificates of withdrawal, drafts, and checks
Notes, depository receipts, drafts, and checks
Notes, certificates of withdrawal, depository receipts, and checks
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Guidelines for making common law contracts that deal with the sale of land.
A framework for all international contracts dealing with the sale of securities.
A consistent and integrated framework of rules to deal with all aspects of commercial sales transactions
A consistent body of rules for dealing with criminal violations of the law that involve either securities or government bonds.
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Lease; sales
Sales; lease
Service; sale of goods
Sale of goods; service
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Article 2 of the UCC.
Article 2A of the UCC.
Article 6 of the UCC.
The common law, because it involves an intangible good.
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Presentment
Date
Tender
Demand
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Revoke
Rehabilitate
Reject
Remonstrate
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Goods
Services
Fixtures
A and B
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A requirements contract.
An output contract.
A void contract.
An invalid open quantity contract.
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Course of performance
Usage of trade
Empirical accord
Accord and satisfaction
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Contract
Promissory estoppel
Negotiable instrument
Negotiable estoppels
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The instrument is in writing
The instrument is executed by a merchant
The instrument has an unconditional promise or order to pay
The instrument is signed by the creator of the instrument
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Will be covered by Article 2 of the UCC.
Will be covered by Article 2A of the UCC.
Will be covered by Article 3 of the UCC.
Will be covered by the common law.
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Usage of trade
Course of dealings
Commercial reasonableness
Commercial practicality
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Specifically manufactured goods
Generically manufactured goods
Non-specifically manufactured goods
Traditional goods
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Conditional
Collaborative
Conforming
Custom
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Designated
Unqualified
Order
Bearer
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The amount to be paid is a sum certain in money
The amount to be paid includes a fixed rate of interest
Payment is to be made either on demand or at a fixed future time
The document must contain the words of negotiability "to the order of" or, in the alternative, words indicating that it is a bearer instrument
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The contract will be void because of the open terms.
The contract will be valid if it involves the sale of land.
The contract will be valid if the parties intended to form a contract and there is a reasonable basis for a court to find a remedy
The contract will be valid as long as the parties expressed some interest in negotiating.
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Option 1
Option 2
Option 3
Option 4
The party typically deals in the kinds of goods involved in the sales contract
The party is a casual seller
The party, by occupation, represents him/herself as having knowledge and skill unique to the practices or goods involved in the transaction
The party in question has employed a broker, agent, or other intermediary
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Time
Qualified
Conditional
Demand
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They have no contract because of the mirror image rule.
They have a contract for the sofa and coffee table
They have a contract for the sofa only.
They have no contract.
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Cashier's checks
Traveler's checks
Certified checks
Promissory checks
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Goods of the type specified in the subject contract
Bearer bonds
A national currency
U.S. dollars only
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User-friendly
Predominant-purpose
Substantial performance
Commercial impracticability Commercial impracticability
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