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Answer 1

Chapter 15

209-210

Language of the Law

1. merchant
2. sale
3. title
4. Uniform Commercial Code
5. price
6. identified goods
7. firm offer
8. bulk transfer
9. future goods
10. document of title

Questions for Review

1. In a shipment contract or a destination contract
2. Risk of Loss is the responsibility for loss or damage to goods which is determined before passage of title occurs.
3. An acceptance may have different or additional terms without being a rejection of that offer. The different or additional terms are treated as proposals for additions to the contract if the parties are not both merchants. If the parties are both merchants, the different or additional terms become part of the contract unless they make an important difference or the offeror objects.
4. Tangible Personal Property.
5. We were not able to find the correct answer for this question
6. If the sale of goods is for a price of $500 or more. If written confirmation of an oral contract between 2 merchants is sent in reasonable time and no objections within 10 days, contract involves specially manufactured goods that cannot be resold easily, buyer actually receives the goods and accepts/pays for them, a party, in court, admits the way they had entered into the oral contract.
7. To all sellers and buyers of goods, merchants or nonmerchants.
8. Can be made in any manner, including party conduct, an offer can be made in any reasonable manner, unless otherwise requested by the offeror, acceptance of offer varies, without being a rejection to the offer, can be made even if price is not settled, output and requirement contacts allowed even if not definite, no consideration to modify contract is necessary, merchants firm offer has no consideration to be binding.
9. Seller: cancel, withhold delivery of goods, stop the delivery, bring a claim to the buyer discussing cost matters, and bring a claim to the buyer that they had accepted.

   Buyer: cancel, bring claim concerning paid money, concerning expenses, refuse to accept, cover sale, and give notice goods have arrived but don't conform to contract, revoke and return.

10. Goods are stolen, lost, or destroyed after contract is made and transaction isn't complete.

Applying Critical Thinking Skills

1. To protect the creditors so they are notified incase their entire stock is sold out for less than it is worth. They will be able to get the money owed to them.
2. Cancel contract, bring claim against seller for the return of any money already paid. Bring claim against seller
3. If someone purchases something that has a voidable title; they can sell it to someone else who may become a good-faith purchaser and the title will change.
4. a) true

b) False

c) False

d) False

e) True