CP Contracts and Commercial Law 2

Question 1

Under the UCC, what is the perfect tender rule?

Accepted Answer

A rule allowing a buyer to reject goods that fail to conform to the contract in any respect

Answer

Under UCC 2-601, the perfect tender rule allows a buyer to reject goods failing to conform in any respect.

Question 2

What is the difference between express and implied warranties?

Accepted Answer

Express are created by specific seller representations while implied arise automatically by law

Answer

Express warranties are affirmatively made by the seller, while implied warranties arise by operation of law.

Question 3

What is anticipatory repudiation in contract law?

Accepted Answer

A clear indication before performance is due that a party will not fulfill obligations

Answer

Anticipatory repudiation occurs when a party unequivocally indicates before performance is due that they will not perform.

Question 4

What does the parol evidence rule prohibit?

Accepted Answer

The use of prior or contemporaneous oral agreements to contradict a final written contract

Answer

The parol evidence rule prevents introducing prior or contemporaneous statements to contradict an integrated written agreement.

Question 5

What is specific performance as a contract remedy?

Accepted Answer

A court order requiring a breaching party to perform their contractual obligations

Answer

Specific performance is an equitable remedy where the court orders the breaching party to fulfill obligations rather than pay damages.

(CP) NALA Certified Paralegal Practice Test