Reference no: EM13268874

1. What is the basic objective of the Code remedies for breach of contract? To help the injured person recover consequential damages arising from the breach of contract. To put in place a mechanism that allows for repeat performance of the contract on modified terms. To help the injured person claim punitive damages arising from the breach of contract. To put the injured person in the same position that he would have been in if the contract had been performed.

2. A seller's ability to disclaim implied warranties is sometimes restricted by the doctrine of: unconscionability. remedy limitation. No privity. commercial impracticability.

3. Lazur Corp. entered into a contract with Baker Suppliers, Inc. to purchase a used word processor from Baker. Lazur was engaged in the business of selling new and used word processors to the general public. The contract required Baker to ship the goods to Lazur by common carrier pursuant to the following provision in the contract: "FOB - Baker Suppliers, Inc. loading dock." Baker also represented in the contract that the word processor had been used for only 10 hours by its previous owner. The contract included the provision that the word processor was being sold "as is" and this provision was in larger and different type style than the remainder of the contract. With regard to the contract between Lazur and Baker: an implied warranty of merchantability does not arise unless both Lazur and Baker are merchants. the "as is" provision effectively disclaims the implied warranty of title. no express warranties are created by the contract. the "as is" provision would not prevent Baker from being liable for a breach of any express warranties created by the contract.

4. A seller who has a _____ has the power to pass good title to a good faith purchaser for value. good faith title voidable title lease title lease deed

5. Which of the following factors is most important in determining whether a manufacturer is strictly liable in tort for a defective product? The negligence of the manufacturer. The contributory negligence of the plaintiff. Modifications to the product by the wholesaler. Whether the product caused injuries.

6. Even if the buyer has misrepresented his solvency to the seller in writing within three months before the delivery of the goods, the 10-day limitation on the seller's right to reclaim the goods still applies. True False

7.Which of the following theories of recovery is likely to be most effective against a disclaimer of liability? Express warranty Implied warranty of merchantability Implied warranty of fitness Section 402A