Contracts and Uniform Commercial Code Flashcards
7 cards from real KY BAR practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Contracts and Uniform Commercial Code flashcards as text
A seller delivers goods that fail in any respect to conform to the contract, and the buyer promptly rejects them. The delivery date has not yet passed. What may the seller do under the UCC?
Answer: Seasonably notify the buyer and cure by delivering conforming goods before the contract deadline
UCC § 2-508 gives a seller the right to cure a rejected tender by conforming delivery before the time for performance expires.
A consumer buys a used truck "as is" from a dealer after signing a conspicuous disclaimer. The truck's transmission fails a week later. Which warranty claim survives?
Answer: None of the implied warranties, because "as is" language disclaims merchantability and fitness
Under UCC § 2-316, expressions like "as is" effectively disclaim the implied warranties of merchantability and fitness.
Before the performance date, a buyer unequivocally states it will not pay for contracted goods. What options does the seller have?
Answer: Treat it as anticipatory repudiation and sue immediately, await performance for a commercially reasonable time, or suspend performance
Anticipatory repudiation lets the aggrieved party sue at once, await performance a commercially reasonable time, or suspend its own performance.
A buyer contracts for a rare antique clock, a one-of-a-kind item, and the seller refuses to deliver. What remedy best fits?
Answer: Specific performance, because the goods are unique and damages are inadequate
UCC § 2-716 permits specific performance where goods are unique or in other proper circumstances.
A party seeking to avoid a contract shows the other side knowingly misrepresented a material fact and the avoiding party justifiably relied on it. What is the contract's status?
Answer: Voidable at the election of the deceived party
Fraudulent misrepresentation in the inducement renders a contract voidable by the innocent party.
A buyer breaches a contract to buy a standard-model boat from a dealer with an unlimited supply. The dealer resells the same boat to another customer at the same price. What can the dealer recover?
Answer: Lost profits on the broken sale, because the dealer is a lost volume seller
A lost volume seller may recover the profit it would have made on the lost sale under UCC § 2-708(2), since it could have made both sales.
A contract to rent a hall for a coronation parade is frustrated when the parade is canceled, though performance remains physically possible. What doctrine may excuse the renter?
Answer: Frustration of purpose, because the principal purpose of the contract was destroyed
As in Krell v. Henry, frustration of purpose excuses performance when an unforeseen event destroys the contract's basic purpose.
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