QUESTION 1

1.The parties to a sales contract may agree as to the time, place, and manner of delivery.

True

False

QUESTION 2

1. Unless the parties agree otherwise, the credit period begins to run from the time the goods are shipped.

True

False

QUESTION 3

1. If a buyer purchases similar goods elsewhere after a breach by the seller, this is known as cover.

True

False

QUESTION 4

1. The requirement that goods tendered to a buyer must conform in all ways to the terms of the contract is called the:

Complete performance rule.

Perfect tender rule.

No right to cure rule.

Substantial performance rule.

QUESTION 5

1. Which of the following is true about a buyer's right of inspection?

This right must be agreed to in the contract in order for it to apply.

This right exists even if not mentioned in the contract, and the seller has the sole right to deterine the time and place the right may be exercised.

This right exists even if not mentioned in the contract, and the buyer has the sole right to determine the time and place the right may be exercised.

If not mentioned in the contract, the buyer has the right to inspect goods in a reasonable time, place, and manner prior to accepting or paying for them.