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Multiple Choice Quiz
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1
The parties to a sales contract may amend the statute of limitation in the following manner; _____.
A)extend it beyond four years
B)reduce it to one year
C)either extend it beyond four years or reduce it to one year
D)the parties may not amend the statute of limitations unless the attorney for each party approves the change
2
A buyer of goods may sue the seller for specific performance if _____.
A)the goods exceed $500 in price
B)the goods are perishable
C)the goods are unique
D)the goods are subject to a contract under seal
3
In a $5,000 sale of goods contract, Ally and Jennifer agree that the damages shall be $300 if either party breaches the contract. These damages _____.
A)are never enforced by the courts
B)must be approved by a trustee
C)must be customary in the trade
D)are called liquidated damages
4
On May 1 the seller breaches a contract with a contract price of $50 per case. The price of the goods rises to $55 per case by May 15 and $75 per case by June 1. By June 15 when the buyer covers the price is $100 per case. The buyer is entitled to for _____ per case.
A)$100
B)$50
C)$25
D)$5
5
A buyer breaches a contract and the seller decides to resell the goods. The sale may be _____.
A)only public
B)only private
C)public or private
D)public, private, or judicial
6
A contract calls for delivery to occur on June 1 but on May 1 the seller indicates that she will not deliver the goods. The buyer may _____.
A)seek another source of goods
B)not take action until after June 1
C)seize the goods if this may be done without a breach of the peace
D)file criminal charges
7
Dan rejects nonconforming goods but refuses to tell the seller, Jody, precisely what problem makes the goods nonconforming. Dan _____.
A)may seek legal recourse against Jody
B)may not seek legal recourse against Jody
C)may request that Jody make a second shipment
D)may not act after ten days from having received the nonconforming goods
8
A merchant buyer who rejects nonconforming goods _____.
A)may have a legal duty to resell the goods
B)never has a legal duty to resell the goods
C)may have the right to cure the nonconformity
D)always is entitled to monetary damages
9
A buyer _____ has a right to inspection before paying for goods.
A)always
B)never
C)usually
D)seldom
10
Tonka Manufacturing delivers oil well pipe to a petroleum drilling rig a 4AM. This delivery _____.
A)is not at a reasonable hour
B)may be at a reasonable hour
C)may only be made at a time precisely specified in the sales contract
D)is not in accordance with the perfect tender rule





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