QUESTION 1 The freedom to contract is such a compelling undercurrent of the UCC that parties to a K may contract away the duty of reasonableness. True False QUESTION 2 Buyer and seller entered into a K forthe sale of microwave ovens. Buyer needed them on a rush basis and told seller to send the microwave ovens right away and to bill the buyer later. Because the price of the microwave ovens was not agreed upon, A. in the event of a dispute, a court will find that buyer and seller did not enter into a valid K. B. in the event of a dispute. a court will find that the buyer and seller entered into a valid K. C. in the event of a dispute, a court will find that the price will be a reasonable one based on the time and place of delivery. D. both B and C above are correct. QUESTION 3 On September 1, seller, a drapery manufacturer, mailed a written and signed offer to buyerto sell 500 window drapes at $100 per drape. The offer stated that it would remain open forten days and that it would not be withdrawn priorto that. Three days later, seller changed her mind and sent a letter via overnight mail revoking the offer. The revocation letter reached buyer on September 5. Buyer did not respond until September 9 when he sent a letter to seller accepting the original offer. Seller received that letter on September 14. Seller does not have to deliverthe window drapes to buyer because she effectively revoked her offer before buyer accepted it. True False QU ESTIO N 4 Buyer, an elderly man living by himself in a studio apartment. agrees to buy a 65 inch television and pay for it in installments over the course of twentyfour months for a total of $5,000. It has a fair market value of 5900. Buyer decides he wants to void the K because he did not realize he was paying so much for the television. Buyer may be successful because A. Seller is a merchant and is therefore held to a higher standard. B. Buyers are given the benefit of the doubt underthe UCC. C. The Kappears to be unconscionable so it