NM Bar Contracts & Commercial Law 2

Question 1

Under UCC Article 2, the perfect tender rule requires that:

Accepted Answer

The seller must tender goods that conform in every respect to the contract

Answer

Under UCC § 2-601, if goods or tender fail in any respect to conform to the contract, the buyer may reject them (the perfect tender rule).

Question 2

A contract entered into under mutual mistake of a material fact is:

Accepted Answer

Voidable at the option of the adversely affected party

Answer

A mutual mistake as to a material fact makes the contract voidable at the option of the adversely affected party, not automatically void.

Question 3

Which remedy allows a non-breaching party to recover the value of the benefit conferred on the breaching party?

Accepted Answer

Restitution

Answer

Restitution prevents unjust enrichment by restoring to the non-breaching party the value of any benefit it conferred on the breaching party.

Question 4

Under UCC Article 2, a buyer's right to 'cure' a defective tender is governed by:

Accepted Answer

UCC § 2-508, allowing cure if time for performance has not yet expired or if seller had reasonable grounds to believe tender was acceptable

Answer

UCC § 2-508 gives the seller a right to cure a nonconforming tender either before the performance deadline or, in some cases, within a further reasonable time after rejection.

Question 5

The parol evidence rule generally prohibits introduction of extrinsic evidence to:

Accepted Answer

Contradict or vary the terms of a fully integrated written contract

Answer

The parol evidence rule bars extrinsic evidence that contradicts or varies the terms of a final, fully integrated written contract.

(NM Bar) New Mexico Bar Exam Practice Test

(NM Bar) New Mexico Bar Exam Practice Test

NM Bar Contracts & Commercial Law 2