Commercial Law Quizzes, Questions & Answers

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This quiz covers the basics of secured transactions under the Uniform Commercial Code, Article 9. It is intended as review for the Bar Exam.

Questions: 18 | Attempts: 1815 | Last updated: Mar 20, 2023

Sample Question 1
Which UCC Aricle governs secured transactions?

Article 1

Article 5

Article 3

Article 9

Sample Question 2
What defines default in a secured transaction?

Common law

The UCC

The agreement

Transportation Law - Commercial Law Review Exam

This Transportation Law quiz assesses understanding of commercial law issues in transportation settings. It covers liability clauses, carrier responsibilities, and contractual stipulations in shipping scenarios, focusing on...

Questions: 7 | Attempts: 382 | Last updated: Mar 19, 2023

Sample Question 1
A cargo ship of X Shipping, Co. ran aground off the coast of Cebu during a storm and lost all its cargo amounting to Php50 Million. The ship itself suffered damages estimated at Php80 Million. The cargo owners filed a suit against X Shipping but it invoked the doctrine of limited liability since its vessel suffered an Php80 Million damage, more than the collective value of all lost cargo. Is X Shipping correct?

Yes, since under that doctrine, the value of the lost cargo and the damage to the ship can be set-off.

No, since each cargo owner has a separate and individual claim for damages.

Yes, since the extent of the ship’s damage was greater than that of the value of the lost cargo.

No, since X Shipping neither incurred a total loss nor abandoned its ship.

Sample Question 2
P, a sales girl in a flower shop at the Ayala Station of the Metro Rail Transit (MRT) bought two tokens or tickets, one for her ride to work and another for her ride home. She got to her flower shop where she usually worked from 8 a.m. to 5 p.m. At about 3 p.m., while P was attending to her duties at the flower shop, two crews of the MRT got into a fight near the flower shop, causing injuries to P in the process. Can P sue the MRT for contractual breach as she was within the MRT premises where she would shortly take her ride home?

No, since the incident took place, not in an MRT train coach, but at the MRT station.

No, since P had no intention to board an MRT train coach when the incident occurred.

Yes, since she already had a ticket for her ride home and was in the MRTs premises at the time of the incident.

Yes, since she bought a round trip ticket and MRT had a duty while she was at its station to keep her safe for her return trip.

Recent Commercial Law Quizzes

MGT 225-business Law- Ucc Quiz (25)

MGT 225-Business Law- UCC Quiz (25)

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.

Questions: 26 | Attempts: 170 | Last updated: Mar 14, 2023

Sample Question
Uniform Commercial Code (UCC) Section 2-105 defines __________ as "all (tangible) things...which are movable at the time of identification to the contract for sale."

Goods

Services

Fixtures

A and B

Commercial Law Quizzes, Questions & Answers

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