ch 23 t/f
A bailment is a special form of sale in which possession is transferred to a bailee.
false
A contract for the sale of goods is not enforceable unless the contract clearly expresses the price.
false
A contract that has elements of both goods and services is always classified as a contract for the sale of goods.
false
A firm offer is effective only if the merchant receives consideration to keep the offer open.
false
A merchant is about to transfer his entire inventory as part of an annual clearance action. This transfer is called a bulk transfer.
false
A sale of goods is defined under UCC Article 2 as transfer of title to intangible property for a price.
false
A writing that is offered to satisfy the statute of frauds must have been written for that purpose.
false
An output or requirement contract is not enforceable unless the parties include an estimate of prospective amounts.
false
Any modification of a sales contract must be supported by some form of consideration.
false
Defenses raised in a suit based on a sales contract differ greatly from defenses used in regard to any other type of contract.
false
The CISG governs all contracts between parties in the countries that have ratified it.
false
The parol evidence rule does not apply to the sale of goods.
false
The term "course of dealing" refers to the language and customs of an industry.
false
To satisfy the statute of frauds, the writing must be signed and must include the price of the goods.
false
When the price of the goods is $500 or more, a writing signed by the defendant is required in all cases.
false
A bill of sale can be used as proof of an otherwise oral agreement.
true
A contract of indefinite duration may be terminated by notice from either party to the other party.
true
A gift is a free transfer of the title to property.
true
An offer to buy or sell goods may be accepted in any manner that is reasonable under the circumstances.
true
An oral contract to sell custom-made goods to a buyer is binding if the goods are not suitable for sale to anyone else in the ordinary course of the seller's business, and the seller has made a substantial beginning in manufacturing or procuring the goods.
true
Consumer protection statutes may require a writing that is more detailed than the writing required by the statute of frauds provision of the Uniform Commercial Code.
true
Goods physically existing and owned by a seller at the time of a transaction are called existing goods.
true
If a contract calls for both rendering services and supplying materials to be used in performing the services, the contract is classified according to its dominant element.
true
Sales law includes special rules that apply to merchants.
true
The UCC permits a court to refuse to enforce a sales contract that it finds to be unconscionable.
true
The provisions of Article 6 concerning bulk transfers are designed to protect creditors.
true
UCC Article 2 applies not only to contracts for the sale of familiar items of personal property, such as automobiles or chairs, but also to the transfer of commodities, such as oil, gasoline, milk, and grain.
true
When a term of an acceptance conflicts with a term of an offer but it is clear that the parties intended to be bound by a contract, the UCC still recognizes the formation of a contract, and the conflicting terms cancel each other and are ignored.
true
When an oral contract is made to sell a 75-inch LED LCD TV for $6,800, payment and acceptance of part of the purchase price avoids the bar of the statute of frauds.
true
With regard to transactions between merchants, failure to repudiate a confirming letter within ten (10) days after receipt binds the non-signing merchant, just as if he had signed the letter or a contract.
true
