General

Question 1

2-102

Answer 1

Applies to the transaction in goods

Question 2

2-105

Answer 2

Goods: moveable at the time of identification other than money
includes: crops, unborn animals, goods severed from reality

Question 3

1-303. Course of Performance,

Answer 3

Performance- conduct between parties for THIS transaction

Question 4

1-303 Course of Dealing

Answer 4

Dealing - conduct between parties for PREVIOUS transactions

Question 5

1-303 Usage of Trade

Answer 5

Trade - Practice regularly observed

locality and vocation effect

Question 6

Article 9

Answer 6

Secure Transactions

Question 7

Lease Bright-Line

Answer 7

a lease creates a security interest if the consideration that the lessee is to pay the lessor for the right to the goods is an obligation for the term of the lease and not subject to termination by lessee

The original term of the lease is equal to or greater than the remaining economic life of the go

Question 8

CISG

Answer 8

applies to international

Question 9

Article 3 is …?

Answer 9

Gap fillers

Question 10

Article 9

Answer 10

Securied Transactions

Question 11

Merchant is…

Answer 11

2-104 a person who deal in goods of the kind

Question 12

Common law will cover when _____ lacks

Answer 12

UCC

Question 13

Statute of Frauds (2-201)

Answer 13

a. Unenforceable any unwritten contract for sale of goods with value of more than $500 ($1000 in Michigan) unless some sufficient writing to indicate k for sale has been made between parties and signed by party against whom enforcement is sought
b. Merchant exception: confirming writing sufficient if recipient of writing knows contact and fails to object in writing in 10 days
i. Not required to be signed
ii. Writing indicate k for sale made
iii. Not mere negotiations
iv. Need binding language
c. Writing requirements:
i. To indicate buyer and seller
ii. Needs to indicate quantity
iii. Signed by party whom enforcement is sought against

Question 14

Parole Evidence

Answer 14

previous aspects of negotiation not written into the contract can be considered IF no integration clause and the concepts would not have been written into teh contract usually

Question 15

Leases are address in…

Answer 15

2A

Question 16

Lease is not enforceable unless:

Answer 16

a. Total payment less than $1000
b. Writing, signed by party whom enforcement sought against sufficeitn to indicate lease k mad
c. If do not meet (1) then enforceable if the goods were received and accepted
i. Acceptance
1. Signifies goods are conforming
2. Fials to reject goods
3. Acceptance of part of a commercial unit = acceptance of whole unit
d. Payment is not a sufficient substitute for writing

Question 17

Statute of Frauds Cmt 1

Answer 17

requires the party for whom it is sought to be enforced against to have signed the contract (signed is a loose term)

Question 18

Under Statute of Frauds rejecting

Answer 18

must be in writting

Question 19

Statute of Frauds partial performacne

Answer 19

payment or received and accepted the goods

Question 20

Statute of Frauds 201(3)

Answer 20

the item was specifally manufacture for the person and could not be sold in regular course of business then it is enforceable