NYLE NY Commercial Transactions & UCC

Question 1

Under UCC Article 2 as adopted in New York, a contract for the sale of goods must be in writing if the price is at least how much?

Accepted Answer

$500

Answer

UCC 2-201, as adopted in New York, requires a writing for contracts for the sale of goods priced at $500 or more to be enforceable under the statute of frauds.

Question 2

Under New York's adoption of UCC 2-314, to whom does the implied warranty of merchantability apply?

Accepted Answer

Only merchants who regularly deal in goods of that kind

Answer

The implied warranty of merchantability under UCC 2-314 applies only to merchants — sellers who regularly deal in goods of the kind sold.

Question 3

Under UCC Article 2's 'perfect tender rule,' a buyer may reject goods if:

Accepted Answer

The goods or tender of delivery fail in any respect to conform to the contract

Answer

Under the perfect tender rule (UCC 2-601), a buyer may reject goods if the goods or the tender of delivery fails in any respect to conform to the contract.

Question 4

Under UCC Article 2, in a shipment contract, when does risk of loss pass to the buyer?

Accepted Answer

When the seller delivers the goods to the carrier

Answer

In a shipment contract, risk of loss passes to the buyer when the seller duly delivers the goods to the carrier and makes a reasonable contract for their transportation.

Question 5

Under UCC 2-207, when a definite acceptance contains additional terms, which doctrine governs whether those terms become part of the contract between merchants?

Accepted Answer

The battle of the forms

Answer

UCC 2-207 codifies the 'battle of the forms,' allowing a contract to form even when acceptance contains additional terms, with those terms becoming part of the contract between merchants unless they materially alter it or are objected to.

NYLE - New York Law Exam Practice Test

NYLE - New York Law Exam Practice Test

NYLE NY Commercial Transactions & UCC