Weegy: If a sale involves unborn animals to be born within twelve months after contracting, identification takes place when the animals are conceived.
User: In a lease transaction, title to the leased goods remains with either the lessor or a third party. (Points : 1)
True
False
Weegy: The answer is true.
User: A general purpose of the UCC is to: (Points : 1)
Protect the merchant who deals in goods.
Protect the consumer.
Standardize commercial law and facilitate commercial transactions.
Protect parties from entering into unconscionable contracts.
Weegy: Standardize commercial law and facilitate commercial transactions.
User: Identification of goods is significant because: (Points : 1)
It allows the contract to be a destination contract.
It is the earliest that risk of loss can pass.
It determines when a document of title is needed.
It determines when the implied warranties become effective.
6. Regarding the assignment of contract rights: (Points : 1)
The party owed a particular right under a contract is called the obligee.
The party who owes the duty of performance is called the obligor.
The party who transfers his right to another is called the assignor.
A, B, and C
A and B only
7. An unconditional promise to perform is known as a(n): (Points : 1)
Irrevocable offer.
Firm offer.
Covenant.
Estopped promise.
8. A seller and buyer have just agreed that the buyer will purchase 1,000 of the widgets from the thousands that the seller has in its warehouse. The buyer will pick them up at the seller’s warehouse. The day before the buyer is to pick them up, the seller’s employee sets the 1,000 widgets aside. What is the significance of setting the buyer’s widgets aside? (Points : 1)
It shifts the risk of loss to the buyer.
It constitutes identification.
It terminates the ...
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18. When one party materially breaches a contract, the other nonbreaching party is discharged from any further performance. TRUE.
Added 8/14/2022 4:01:31 PM
This answer has been confirmed as correct and helpful.
3
19. Article 2 of the UCC applies to transactions in goods. TRUE.
Article 2 of the Uniform Commercial Code (UCC) applies to "transactions in goods," unless the "context otherwise requires" and with other exceptions.
Added 8/14/2022 4:02:12 PM
This answer has been confirmed as correct and helpful.
3
20. Place the nonbreaching party in the same position as if the contract had been fully performed is the general goal of awarding compensatory damages in a breach of contract situation.
Added 8/14/2022 4:03:47 PM
This answer has been confirmed as correct and helpful.
3
22. Rescission and restitution are designed to give the parties the benefit of the bargain. FALSE.
“Rescission and Restitution: the remedy of canceling a contract and making restitution to the parties.
Added 8/14/2022 4:05:38 PM
This answer has been confirmed as correct and helpful.
3
25. A material breach allows the other party to rescind a contract. TRUE.
Added 8/14/2022 4:07:10 PM
This answer has been confirmed as correct and helpful.
