Who is an insolvent purchaser.
Question
1) FlavorBean Coffee Company agrees to buy an unspecified quantity of coffee beans from Global AgriCorp. Global breaches the contract. In FlavorBean’s suit to obtain relief, the court will most likely
(1pts)
award a reasonable quantity of beans to FlavorBean.
award FlavorBean all the beans that it requires.
award Global’s output of coffee beans to FlavorBean.
have no basis for determining a remedy.
2) Rita, the manager of the State University (SU) soccer team, orally agrees to lease a certain number of specially made SU banners from Top Banners, Inc. This lease is enforceable only if Top has made a substantial start on making the banners and
(1pts)
Rita agreed to the lease on behalf of the SU soccer team.
SU does not have other, similar banners available.
the banners are not suitable for others in the course of Top’s business.
the soccer season has not ended and SU goes to the finals.
3) Orange Manufacturing Corporation (OMC) orders twelve job-training and on-the-job safety DVDs from Plum Productions, Inc., which delivers the disks to OMC’s plant. This is most likely
(1pts)
a gift.
a lease of goods.
a sale of goods.
a service contract.
4) Elizabeth buys a car from Silas, who is sixteen years old. Elizabeth then wants to sell the car to her neighbor, John. Elizabeth’s title to the car is
(1pts)
valid.
voidable.
void.
good.
5) Gail enters into a contract with Hi-Price Appliances, Inc. In a suit between the parties over payment under the contract, Gail claims that a certain clause is unconscionable. If the court agrees, it may
(1pts)
enforce, limit, or refuse to enforce the contract or the disputed clause.
enforce the contract without the disputed clause only.
limit the application of the disputed clause only.
refuse to enforce the entire contract only.
6) Jamie is redoing his kitchen and decides he needs a floor sander to complete the job. Jamie tells Rachel, his neighbor, that he needs a floor sander. Rachel tells Jamie to call Home Repair Rentals, Inc. Home Repair Rentals leases Jamie a floor sander. In this transaction the lessor is
(1pts)
Jamie.
Rachel.
Home Repair Rentals.
both Jamie and Rachel.
7) Peter, an agent for Zippy Cars, Inc., writes a letter to Cassandra on March 1 stating that he will sell her a 2011 Suburu Outback for $20,000 between March 1 and April 30. Peter’s letter to Cassandra is
(1pts)
a firm offer.
an acceptance.
a bilateral contract.
a breach.
8) Thorpe buys an HD TV from Viewpoint Electronics store, which agrees to keep the TV for Thorpe until he picks it up. Before Thorpe gets the TV, a fire destroys the store and the set. The loss is suffered by
(1pts)
neither Thorpe nor Viewpoint
Thorpe and Viewpoint.
Thorpe only.
Viewpoint only.
9) Big Beef, Inc. raises calves to sell. Big Beef breeds its cows in April, and the cows calve in February of the following year. In January Andrea contracts with Big Beef to buy fifty calves. Identification takes place in
(1pts)
January, when the contract is signed.
April, when the calves are conceived.
February, when the calves are born.
a reasonable period of time.
10) Sweets Store buys chocolate from Tasty Candies, Inc. The parties agree that the chocolate will be shipped “F.O.B. Sweets” via United Railroad Corporation. The chocolate is lost in transit. The loss is suffered by
(1pts)
Sweets and Tasty, but not United.
Sweets only.
Sweets, Tasty, and United.
Tasty only.