OK Bar Contracts and Sales 2

Question 1

A merchant emails a signed offer to sell 500 widgets at $10 each, stating the offer will remain open for 30 days. Ten days later, before the buyer accepts, the merchant revokes. Under the UCC, is the revocation effective?

Accepted Answer

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

Answer

UCC 2-205 makes a signed written offer by a merchant giving assurance it will be held open irrevocable without consideration for the stated time, up to three months.

Question 2

A homeowner promises to pay a painter $5,000 after the painter has already finished painting the house as a volunteer. Is the homeowner's promise enforceable under traditional contract principles?

Accepted Answer

No, because past consideration is not valid consideration

Answer

A promise made in exchange for a benefit already conferred is supported only by past consideration, which is generally insufficient to form a contract.

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 contradicts the price term. Under the parol evidence rule, the evidence is:

Accepted Answer

Inadmissible, because prior agreements contradicting a fully integrated writing are barred

Answer

The parol evidence rule bars prior or contemporaneous agreements that contradict the terms of a fully integrated written contract.

Question 4

A contractor agrees to build a barn for $50,000. Midway through, the contractor demands an extra $10,000 to finish, citing no new circumstances, and the owner agrees. At common law, is the modification enforceable?

Accepted Answer

No, because the contractor had a pre-existing duty to complete the work

Answer

Under the common law pre-existing duty rule, a promise to pay more for a duty already owed lacks consideration and is unenforceable.

Question 5

A buyer orders 100 chairs and the seller ships 100 chairs of a different model without any explanation. Under the UCC, the seller's shipment of nonconforming goods constitutes:

Accepted Answer

Both an acceptance of the offer and a breach of the contract

Answer

Under UCC 2-206, shipping nonconforming goods without noting an accommodation is simultaneously an acceptance and a breach.

(OK Bar) Oklahoma Bar Exam Practice Test

(OK Bar) Oklahoma Bar Exam Practice Test

OK Bar Contracts and Sales 2