BLAW $351$: EXAM $1$ TRUE: $2(A)$ of the UCC?

A$)$ Iessec

B$)$ actuary

C$)$ agent

D$)$ assignor

E$)$ lessor

of the UCC defines goods as tangible things which are movable at the time of identification to the contract for sale.

A$)$ Article $105$

B$)$ Article $1$

C$)$ Article $2$

D$)$ Article $3$

E$)$ Article $102$

There are two special kinds of leases under the UCC. What are they?

A$)$ Consumer and finance

B$)$ Consumer and terminal

C$)$ Finance and terminal

D$)$ Procedural and terminal

E$)$ Real estate and procedural

Fred's Fireplaces enters a contract with Miguel's Patio Supply in which Miguel agrees to purchase $20$ fireplaces. Fred does not deliver the fireplaces, so Miguel purchases fireplace from Joe's Patio Supply instead. Joe charges significantly above market rate, but Miguel pays anyway because Miguel intends to sue Fred for the difference. Did Miguel act appropriately?

A$)$ No$,$ because the Uniform Commercial Code $($UCC$)$ requires buyers to notify sellers before obtaining substitute goods.

B$)$ No$,$ because obtaining substitute goods in the event of breach is appropriate only if the contract is for at least $50$ units of goods.

C$)$ No$,$ because Miguel did not act in good faith and he overpaid for the goods.

D$)$ No$,$ because obtaining substitute goods is permitted only if the quantity shipped is a large amount.

E$)$ Yes, because a buyer can always cover, even at an unreasonable price.