WV Bar Contracts and UCC 3

Question 1

Specific performance is generally available as a remedy when:

Accepted Answer

The contract involves unique goods or real property

Answer

Money damages would be adequate

Answer

The breaching party is insolvent

Answer

The parties agree to it in the contract

Question 2

Under West Virginia law, mutual mistake of fact allows rescission when both parties were mistaken about:

Accepted Answer

A basic assumption on which the contract was made

Answer

The future value of the contract subject matter

Answer

The legal consequences of their agreement

Answer

The market conditions at the time of contracting

Question 3

Under UCC § 2-314, an implied warranty of merchantability requires that goods sold by a merchant be:

Accepted Answer

Fit for the ordinary purposes for which such goods are used

Answer

Of the highest available quality

Answer

The best available in the market

Answer

Accompanied by an express warranty

Question 4

The statute of limitations for breach of a written contract in West Virginia is:

Accepted Answer

Ten years

Answer

Two years

Answer

Five years

Answer

Fifteen years

Question 5

An agreement to modify an existing common law contract requires:

Accepted Answer

New consideration

Answer

A writing

Answer

Both a writing and new consideration

Answer

Neither a writing nor new consideration

Question 6

When a seller delivers non-conforming goods, the UCC right to cure allows the seller to:

Accepted Answer

Tender conforming goods within the contract time if notice is given

Answer

Demand the buyer keep the goods

Answer

Sue the buyer for the contract price

Answer

Cancel the contract without liability