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Test Bank For The Legal Environment Of Business Text And Cases 9th Edition By Cross
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Test Bank For Essentials Of Business Communication 10th Edition By Mary Ellen Guffey
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Managerial Accounting Creating Value In A Dynamic Business Environment 9th Edition By Hilton – Test Bank
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Test Bank For The Legal Environment Of Business Text And Cases 9th Edition By Cross

$35.00 Original price was: $35.00.$20.00Current price is: $20.00.

This is not a Textbook. Please check the free sample before buying.

Edition: 9th Edition

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Test Bank for The Legal Environment Of Business Text And Cases 9th Edition by Cross

Chapter 11

Sales and Lease Contracts

 

 

N.B.:  TYPE indicates that a question is new, modified, or unchanged, as follows.

 

N     A question new to this edition of the Test Bank.

+      A question modified from the previous edition of the Test Bank.

=      A question included in the previous edition of the Test Bank.

 

 

true/false questions

 

  1. A contract for a sale of real property or services is a contract for a sale of goods.

 

answer:     F                          PAGES:   Section 1              TYPE:      N

BUSPROG: Reflective                         AICPA: BB-Legal

 

  1. Goods associated with real estate often fall within the scope of Article 2.

 

ANSWER:     T                          PAGES:   Section 1              TYPE:      N

BUSPROG: Analytic                            AICPA: BB-Legal

 

  1. Under the UCC, good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.

 

answer:     T                          PAGES:   Section 2              TYPE:      N

BUSPROG: Analytic                            AICPA: BB-Legal

  1. Title and risk of loss can pass to the buyer from the seller before the goods are identified to the contract.

 

answer:     F                          PAGES:   Section 3              TYPE:      N

BUSPROG: Analytic                            AICPA: BB-Legal

 

  1. Identification takes place when specific goods are designated as the subject mater of a sales or lease contract.

 

answer:     T                          PAGES:   Section 3              TYPE:      N

BUSPROG: Analytic                            AICPA: BB-Legal

 

  1. Any explicit understanding between the buyer and the seller determines when title passes.

 

ANSWER:     T                          PAGES:   Section 3              TYPE:      N

BUSPROG: Analytic                            AICPA: BB-Legal

 

  1. A bill of lading is a receipt signed by a warehouse for goods stored in a warehouse.

 

answer:     F                          PAGES:   Section 3              TYPE:      N

BUSPROG: Analytic                            AICPA: BB-Legal

 

  1. Under a destination contract, the risk of loss passes to the buyer when the goods are duly delivered to the carrier.

 

ANSWER:     F                          PAGES:   Section 3              TYPE:      N

BUSPROG: Analytic                            AICPA: BB-Legal

 

  1. The contract term “free on board” indicates that the selling price of goods includes transportation costs to the specific F.O.B. place named in the contract.

 

ANSWER:     T                          PAGES:   Section 3              TYPE:      N

BUSPROG: Analytic                            AICPA: BB-Legal

 

  1. Merchants are held to a higher standard of performance or duty than are nonmerchants.

 

ANSWER:     T                          PAGES:   Section 4              TYPE:      N

BUSPROG: Analytic                            AICPA: BB-Legal

  1. Under a shipment contract, if the seller does not make a reasonable contract for transportation or notify the buyer of the shipment, the buyer can reject the goods if a material loss results.

 

answer:     t                          PAGES:   Section 4              TYPE:      N

BUSPROG: Analytic                            AICPA: BB-Legal

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