If a contract for the sale of a case of widgets is silent about both price and payment terms,

Select one:

a. The price will be determined by the fair market value of the widgets at the time the contract was made and payment is due in the place and at the time the buyer receives the goods

b. The price is the fair market value for the widgets on the day of delivery and payment is due in the place and at the time the buyer receives the goods

c. Price will be determined by using fair market value of the widgets at the time the contract was made and payment will be due within a reasonable time

d. The contract will be unenforceable because it does not contain essential terms

On Saturday, Dr. Saperstein paid Furniture World, a furniture retailer, $600 for a table. It was to be padded and crated so that Dr. Saperstein could transport it home in his truck on Tuesday. On Monday, the table was destroyed in a fire at Furniture World. Who bears the risk of loss?

Select one:

a. Dr. Saperstein as he chose to pick up the table and not have it delivered.

b. Dr. Saperstein as he had title to the table at the time it was destroyed.

c. Furniture World as it is a merchant and Dr. Saperstein had not taken possession of the table.

d. Furniture World as the table had been identified to the contract.

28. Sam is a top executive acting as an agent for ABC Corporation (ABC). In an ordinary business situation, Sam

Select one:

a. None of the above

b. may not act as ABC's undisclosed agent

c. Must obtain written authority from ABC to enter into contracts on ABC's behalf

d. Must obtain written ratification from ABC of any contracts entered into on ABC's behalf

Buster walked into his local grocery store, proceeded to the floral section to buy his sick mother some tulips, slipped, and fell. The grocery store had, half an hour prior to Buster's visit, sprayed "Leaf Shine" on the plants in the store. Does Buster have a good case against the store? Why or why not?

Select one:

a. No, Buster is an invitee, and the grocery has no duty to warn him of hidden dangers.

b. Yes, Buster has a good negligence case if the floor looked slippery and Buster was actually injured.

c. No, Buster is a licensee, and the grocery has no duty to warn him of obvious dangers.

d. Yes, Buster has a good premises liability case even if the floor did not look slippery as long as Buster was actually injured.

Before putting an agreement not to compete in an employment contract, the employer should make certain that

Select one:

a. All of the other three answers

b. The geographic area of the restriction is not much greater than the area in which the employee actually worked

c. The state in which the employee works recognizes the validity of agreements not to compete

d. The restriction is for a reasonable amount of time

Jim put an ad in the local paper stating that he had a 2014 Honda Pilot with 90,000 miles for sale for $8,000. Which statement best describes the legal status of this ad?

Select one:

a. It is an offer.

b. It is an offer of an option.

c. It is not an offer.

d. It is a firm offer under the UCC.