Hi I was wondering if you could help me understand this worksheet :

1. The Uniform Commercial Code (UCC) attempts to provide:

a. guidelines for making common law contractsb. guidelines for the sales of servicesc. a framework for international contractsd. a framework of rules to deal with all aspects of commercial sales transactionse. a body of rules for dealing with criminal violations in sales contracts

2. The Uniform Commercial Code has been adopted by:

a. approximately half of the statesb. most of the states in the north, east, and westc. a few statesd. all of the states in whole or in part

3. Article 2 of the UCC governsSelect

contracts for the sale of land

contracts for the sale of goods

bulk sales

negotiable instruments

Item 1

.

4. The UCC attempts to provide a consistent and integrated framework of rules to deal with all phasesSelect

sometimes arising

rarely arising

ordinarily arising

Item 1

in a commercial sales transaction from start to finish.

5. The common law of contracts and the Uniform Commercial Code are exactly the same.

a. Trueb. False

6. Match the left-hand words to their appropriate definitions on the right-hand side.

Sales contract

A contract for the sale of goods under which the ownership of goods is transferred from a seller to a buyer for a price.Tangible property

The passing of title (evidence of ownership rights) from the seller to the buyer for a price.Predominant-factor test

Property that has physical existence and can be distinguished by the senses of touch, sight, and so on, such as a car.Sale

Property that is incapable of being apprehended by the senses (such as by sight or touch), such as intellectual property.Intangible property

A person who is engaged in the purchase and sale of goods. Under the Uniform Commercial Code, a person who deals in goods of the kind involved in the sales contract.Merchant

A test courts use to determine whether a contract is primarily for the sale of goods or for the sale of services.

7. In order for the rules contained in the UCC to apply to a contract for the sale of goods, the goods must beSelect

for retail use only

unique personal services

real property

tangible (have physical existence)

Item 1

.

8. In contracts that involve the sale of both goods and services, once a court decides that such a contract is primarily a goods contract, any dispute, even over the services portion, will be decided under the UCC.

a. Trueb. False

9. A person who employs a merchant as a broker, agent, or other intermediary has theSelect

status

desire

ignorance

knowledge

Item 1

of a merchant in that transaction.

10. Match the left-hand words to their appropriate definitions on the right-hand side.

Lessee

In regard to the lease of goods, an agreement in which one person (the lessor) agrees to transfer the right to the possession and use the property to another person (the lessee) in exchange for rental payments.Lease agreement

One who acquires the right to the possession and use of goods under a lease.Lessor

One who transfers the right to the possession and use of goods under a lease.