Personal Law- 13.2 (Sales)

Two parties ____ when they exchange goods for goods

Barter

A(n) ___ is a reciept that serves as a written evidence of the transfer of ownership of goods

Bill of sale

Which of the following would not be considered goods under the UCC's law of sales? (a) passenger plane (b) computer (c) six acres of land (d) All of the above are goods under the UCC.

C-Six acres of land

____ are goods that are specifically fulfill the obligations under the contract

Confirming goods

A(n) _?_ delivery occurs when there is no actual transfer of possession of the goods, but the purchaser receives the power to control them, as intended by the parties involved.

Constructive

A(n) ___ occurs when the transfer of goods will take place

Contract to sell

Contracts to sell are not governed by the UCC's law of sales. True or false?

False

Generally, oral contracts are unenforceable in court. True or False?

False

Tangible, movable, personal property such as clothing or food is called_____

Goods

. Individuals involved in sales transactions are either classified as casual sellers or _?_ by the law.

Merchant

Do both parties have to sign the writing to satisfy the Statute of Frauds? Yes or No?

No

Under the Statute of Frauds, sales of goods valued at _?_ or more need to be evidenced by a writing to be enforceable in court.

500

Grant had long admired Kahn's collection of records featuring the big bands of the 1930s. One day Kahn orally agreed to sell the collection to Grant for $275. When Grant appeared with the money, however, Kahn said she had changed her mind and refused to deliver. Moreover, she insisted she was acting within her legal rights. Kahn said she had learned that her collection was worth at least $1,000. Therefore, she said, a signed writing was required to make the contract enforceable. Did Kahn state the law correctly?

No the amount agreed upon that time was less than 500 dollars and did not need to be in writing to be enforceable

Soulle made an oral contract with Redwood Paper Supply for 750 boxes of computer printer paper at $10 a box. The 750 boxes were to come in three shipments two weeks apart of 100, 300, and 350 boxes each. The day before the second shipment was to arrive, Soulle cancelled the contract. Redwood Paper Supply sought to enforce the contract for the full 750 boxes. Will it be able to do so? Why or why not?

No, it is only effective for a month

As Brackston was examining a china plate in the Nook and Cranny Shoppe, it slipped from her hands. The plate smashed into countless pieces when it hit the floor. After the store owner swept up the mess, she pointed to a sign on the wall that said, "Handle with Care! If You Break It, You Buy It." She then rang up a sales charge of $300 plus $18 sales tax. Was Brackston the vendee in a sales contract?

No, it was an accident, it would not be considered a sale.

. Harrison orally agreed to buy two electric guitars and a matched set of drums from Rudolph. The price was $1,250, payable with $800 in cash and a large-screen television. Harrison paid the price in full. However, Rudolph refused to deliver the guitars and drums, and he sent television back and mailed a certified check for $800 to Harrison. He explained that he had decided to start another rock group. Rudolph claimed that their oral agreement was not enforceable. Is he right?

No, payment in full makes it unacceptable to the statue of fraud

The ___ requires the tender of goods to match the buyer's order absoluetly

Perfect tender rule

___ is the consideration for a sale

Price

Betty Epstein visited a beauty salon operated by Giannattasio. During the treatment Gianattasio used a product called Zotos 30-day, manufactured by Sales, Inc. A pre-bleach was also used, which was manufactured by Clairol, Inc. Epstein alleged that she was injured by these products and suffered dermatitis and disfigurment from loosing her hair. Epstein sued Giannattasio, Sales Affilates, and Clairol alleging breach of warranty under the UCC. All three denied liability under the UCC, alleging that there was no sale of any "good" to Epstein and therefore the UCC does not apply. Are all three of the defendants incorrect? Explain

The defendants are correct because this was a service, so therefore they will not be held liable.

If a buyer resells the goods, the UCC treats the buyer's action as an acceptance True or False

True

If a buyer resells the goods, the UCC treats the buyer's action as an acceptance True or False?

True

If a party admits to agreeing to the terms of an oral contract during legal proceedings, the contract becomes enforceable against him or her True or False?

True

Intellectual property, such as a patent or a copyright, is not considered a good under the UCC. True or False?

True

Rare coins, even though currency, can be considered goods under the UCC True or False?

True

A contract that may be declared ___ if it contains any grossly unfair clauseses

Unconsionable

A person who purchases good is a(n)

Vendee/Purchaser

A(n) ____ is a person or company who sells goods.

Vendor

Can a court refuse to enforce an entire contract that it finds to be unconscionable? Yes or no?

Yes

A pottery manufacturer offered to sell red clay flowerpots in three different sizes to a garden supply store. The store accepted the offer but specified that the pots had to be packaged in sets of three (with one of each size) rather than in bulk as described in the offer. This was a material change in the terms. The pottery maker did not object or revoke the original offer. Instead the maker packaged and shipped in threes the goods as requested. Later, the pottery maker did a cost evaluation of shipping the pots in threes and stopped doing so. Could the maker be sued under the sales contract and be forced to ship in threes?

Yes would be accepted maker did not reject

While on their two-week honeymoon, Keith and Regina stayed at a hotel where the nightly rate was $500. They bough matching lokai bracelets for $50 at a tourist shop. Keith took some of their clothes to Imperial Cleaners and agreed to pay $45 to have them cleaned. Regina traded a necklace for a hand-carved wooden giraffe. Do any of these transactions qualify as a sale?

Yes, the one transaction that is consider a sale would be the bracelets. Everything else like the cleaners would be considered a service

Ashleigh wanted to buy an additional 1,000 shares of her employer's stock. To do so she placed an order with her stock broker to buy "1,000 shares at market price." While the order was pending a fellow employee, Benton, sold Ashleigh 1,000 of his shares. Shortly thereafter Ashleigh's stock broker reported the execution of her purchase order for 1,000 shares at a price $5 higher than what Ashleigh had paid Benton. Ashleigh therefore refused to pay the broker as she had not specified a price term in her offer. Was the contract to buy the stock at market enforceable in court?

Yes, the price is a reasonable price at the time was a reasonable time.