1) To which contract does the UCC apply?

A.A contract for a painter who will paint a large commercial structure for a total of $42,000.

B.A contract for the sale of 10,000 DVDs from the producer to the retailer.

C.A contract for the sale of plumbing supplies totaling $400

D.A contract for economic consulting services from Michael for a total of $43,500.

2) In a requirements contract, one party is obligated to sell its entire output of particular goods and the other party is obligated to buy the entire output.

True

False

3) Kate bought 100 bikes from Rauber, Inc. The agreement provided that Kate could return any bikes still unsold after six months. One month after delivery of the bikes, a fire destroyed Kate's store and all of her merchandise including the bikes. Under these circumstances

A.Kate bears the entire risk of loss

B.Kate bears the risk of loss only for those bikes she could reasonably have expected to have sold within six months.

C.Rauber bears the risk of loss only for those bikes that had actually been sold before the time of the fire.

D.Rauber bears the entire risk of loss.

4) Lizzie entered a contract with Williams Grocery Stores, Inc. to sell all of her 2009 strawberry crop at $17.29/bushel. There was no quantity listed. Under these circumstances:

A.This is a requirements contract.

B.This contract is illusory and therefore unenforceable.

C.This is an output contract.

D.This is an example of a time when the courts will apply a "gap filler" consistent with the parties' intent.

5) At common law, who retained the risk of loss when goods shipped from buyer to seller?

A.Seller

B.The party who held title at the time of loss.

C.Buyer

D.The named beneficiary.