Exam 16: Sales of Personal Property

A) a sale involves an immediate transfer of title from one party to another while a contract to sell does not.
B) a sale always requires the price to be paid up front by the seller while a contract does not.
C) a contract to sell involves the immediate transfer of title from one party to another while a sale does not.
D) a contract to sell involves the immediate transfer of cash to the seller while a sale does not.

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A

A) They are a type of existing goods.
B) They are goods in the designing stage.
C) They are not yet existing.
D) Identified goods refer to goods that are yet to be manufactured by their seller. ​

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A) The necklace is an identified good.
B) Ben's holds the title to the diamond necklace.
C) Only a contract to sell has been made between Sara and Ben's.
D) The title to the necklace will pass to Sara as soon as the necklace is made.

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A) A sublets an apartment for the summer from B.
B) A pays B to repair his car.
C) A buys a spare USB charger for his phone.
D) A purchases the digital license to new software for his computer.

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A bill of saleprovides written evidence ...

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False

A) The convention applies to contracts where the buyer and seller have places of business in different states of the same country.
B) The convention covers contracts between two parties even if their operations are in countries that have not adopted the convention.
C) The convention extensively covers personal consumer transactions in addition to business-to-business situations.
D) The convention only covers contracts between two parties if their operations are in different countries that have adopted the convention.

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A) If a sales contract does not state the price of goods that will be sold to the buyer, the contract is considered invalid.
B) If the price term is not expressly stated, it will be held to be the reasonable price for the same goods in the market.
C) When a contract includes the supply of both services and goods, the contract is considered to be a contract for the sale of goods only if the terms expressly state it is subject to the UCC.
D) If parties indicate that the price of goods must be fixed at a later date, and no price is thus fixed, the goods must be supplied at whatever price the seller sets.

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A) If a sale is divisible with a legal and illegal part, then neither part is enforceable by the law.
B) An indivisible sale with an illegal part makes the entire sale illegal.
C) If a sale involves several separate items but it is a lump-sum sale, then the sale is considered divisible.
D) If a party is completely innocent and has entered into an illegal sale, the court will not intervene to aid the party.

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