OH Bar Contracts and Sales 2

Question 1

A merchant emails another merchant: "I will sell you 500 widgets at $10 each, offer firm for 30 days." Ten days later, before acceptance, the seller revokes. Under UCC Article 2, is the revocation effective?

Accepted Answer

No, because a signed firm offer by a merchant is irrevocable for the stated period up to three months

Answer

Under UCC 2-205, a merchant's signed writing giving assurance an offer will be held open is irrevocable without consideration for the stated time, not exceeding three months.

Question 2

A homeowner promises to pay a painter $5,000 for painting her house. After the painter finishes, the homeowner says, "I'll also give you a $500 bonus next week." She never pays the bonus. Is the bonus promise enforceable?

Accepted Answer

No, because past consideration is not valid consideration

Answer

A promise made in exchange for performance already completed lacks consideration because past consideration cannot support a new promise.

Question 3

A buyer and seller sign a fully integrated written contract for the sale of land. The buyer seeks to introduce evidence of a prior oral agreement that the seller would also remove an old barn. Is the evidence admissible?

Accepted Answer

No, because the parol evidence rule bars prior agreements that contradict or supplement a fully integrated writing

Answer

When a writing is a complete integration, the parol evidence rule bars evidence of prior or contemporaneous agreements offered to add to or vary its terms.

Question 4

A seller contracts to deliver 100 chairs by June 1. On May 15, the seller delivers 100 chairs, 10 of which are scratched. Under the UCC perfect tender rule, what may the buyer do?

Accepted Answer

Reject the whole, accept the whole, or accept any commercial units and reject the rest

Answer

Under UCC 2-601, if goods fail in any respect to conform, the buyer may reject all, accept all, or accept any commercial units and reject the rest.

Question 5

A general contractor uses a subcontractor's bid in computing its own bid on a project. After the general contractor wins the project, the subcontractor tries to revoke its bid. What is the general contractor's best theory to hold the subcontractor to the bid?

Accepted Answer

Promissory estoppel making the bid irrevocable due to foreseeable reliance

Answer

Under Drennan v. Star Paving, a subcontractor's bid is held open by promissory estoppel when the general contractor foreseeably and reasonably relies on it.

(OH Bar) Ohio Bar Exam Practice Test

(OH Bar) Ohio Bar Exam Practice Test

OH Bar Contracts and Sales 2