1. In a reverse auction, a bidding contractor always knows the identity of the other bidders.

True

False

2. A bid bond is a guarantee by a surety that the contractor for whom they submitted the bond will execute the contract (if they won the bid).

True

False

3. The implied warranty of fitness is a warranty under the U.C.C. that the goods sold will be fit for their particular purpose.

True

False

4. Transactions or disputes relating to the sale of equipment or materials are governed by Article 2 of the U.C.C.

True

False