1) Eagle Products, Inc. breaches its contract with Federated Stores Company. Federated files a suit to recover compensatory damages which normally assessed to
A) compensate a nonbreaching party for the loss of a bargain. (B) establish, in the absence of a loss, that a party acted wrongfully (C) pay for harm caused by special circumstances beyond a contract (D)penalize a breaching party
2) Paul contracts a buy a Quality-brand computer from Royal Networking Systems for $5,000, but Royal fails to deliver. Paul buys the computer elsewhere for $6,700. Paul's measure of damages is
A) $1,700 (B)$1,700 plus incidental damages (C) incidental damages only (D) nothing
3) bNational Expedition needs a tent for a mountain-climbing trip and orders one for $500 from Outdoor Supplies. National does not tell Outdoor about the trip, or that it must receive the tent by July 1 or it will lose $10,000. Outdoor ships the tent July 15. National can recover
A) $10,500 (B) $10,000 (C) $500 (D) nominal damage
4) Fine Properties, Inc negotiates with General Maintenance Corporation to include a liquidated damages clause in their contract. To be enforceable, at the time of the contract, an estimate of the damages from a breach must be
A) definite (B) difficult (C)easy (D) possible
5) Roy contract to sell his Double -R Ranch to Sam on May 1. On April 20, Roy tells Sam that he will not go through with the deal. Sam files a suit against Roy. Sam can recover
A) the cost of any ranch that would suit him (B) the cost of a similar, nearby ranch (C) the double- R Ranch (D) nothing.
6) A contract between National Supplies Company and Omega Manufacturing Corporation includes a provision excluding liability as a result of fraud. This provision is:
A) enforceable because the parties are protected from liability (B) enforceable because the parties consented to it. (C) enforceable it the parties have equal bargaining power (D) not enforceable
7) Cathy buys software from Digital Products Corporation. When Cathy loads the software, (to use the program) she is required to click on a button that says, in reference to certain terms " I agree"
A) click on agreement (B) default agreement (C) default agreement (D) shrink wrap agreement
8) Over the Internet, Alpha Contractors, Inc arranges to lease storage space from Beta Services Company. To complete the deal, Alpha clicks on a button that says in reference to certain terms "I agree". Most likely, the parties have
A) a binding contract that includes terms (B) binding contract that does not include terms (C) enforceable contract that include terms (D) an unenforceable contract that does not include terms
9) First Design Corporation, a business firm, and Gary a consumer make a deal over the internet that involves e-signatures. Under the E-SIGH Act, for the e-signatures to be enforceable
A) both parties must have agreed to use e- signature(B) neither parties must have agreed to use e- signature (C) only First Design must have agreed to use an e-signature (D) only Gary must have agreed to use an e-signature
10) Mary and Nick make a deal that comes under the UETA. Under the UETA , " information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form "is
A) an e-document (B) an e-signature (C) an e-transaction (D) record
11). American Food Corporation and Bakers Goods, Inc. transact a deal that the UETA covers. The UETA covers contracts that are also governed by:
A) laws on wills and trusts only (B) the Uniform Commercial Code only (C) Uniform Commercial Information Transactions Act only (D) none of the above
12) Alpha Company and Beta Corporation business firms, transact a deal over the Internet .Their contract does not mention UETA. The UTEA covers.
A) none of the contract. (B) only the part of the contract that concerns the computer information (C) only the part of the contract that does not concern computer information (D) the entire contract
13) Omega System, Inc contracts with Petro Oil Corporation to make a special pipe and install it in Petro's refinery. There is no separate price in the contract for installation. According to the reasoning of the court in case 15.1, Mecanique C.N.C., Inc v. Durr Environoment, Inc., this contract is
A) equally for a sale of goods and a sale of services (B) neither for a sale of goods nor a sale of service. (C) predominantly for sale of goods (D) predominantly for sale of service
14) Allen and Becky enter into a sale contract. With respect to specific contractual provisions set out in the UCC, Allen and Becky may
A) agree to different terms only to a reasonable extent (B) agree to different terms unless they "get caught" (C) agree to whatever terms they wish (D) not agree to different terms.
15) Regional Products, Inc. agrees to sell to Quantity Dealers Corporation a certain amount of goods, but no mention is made of where the goods are to be delivered. In general, the UCC requires that the delivery take place at
A)neutral place of business halfway between the parties location (B) a UCC-designated
warehouse (C)Regional's place of business (D) Quantity's place of business