Reference no: EM132174612
1. Credit Agency Corporation issues consumer credit reports. The company generally does not delete unverifiable or erroneous information from the reports. Under the Fair Credit Reporting Act, this firm may be subject to
finance charges.
monetary damages.
a cease-and-desist order.
no sanctions.
2. Ron enters into written agreements with Sophie involving a sale of Timberline Motel, including the land, the building, and the furnishings. The UCC Statute of Frauds governs the sale of
all of the choices.
the building.
the furnishings priced at $500 or more.
the land.
3. Dona offers to sell her used sofa, chair, coffee table, end table, and lamp to Erma for $700. Erma responds that she will pay that price if Dona’s TV set is included. Neither party is a merchant. Their contract is formed according to
the new terms of the acceptance.
whatever is reasonable.
the terms of the original offer.
none of the terms.
4. Great Bikes, Inc., allows Herb to take an Itasca-brand motorcycle for a “test run.” Herb tries the bike for a few hours, returns, and buys it. This is
a bailment.
a lease.
a sale on approval.
a sale or return.
5. Runners Feet, a shoe store, orders one hundred pair of athletic shoes from Speedster Inc. Absent a contrary agreement between the parties, title will pass to Runners Feet when
the parties sign the contract.
the goods exist and are identified.
the seller physically delivers the goods.
the buyer pays for the goods.