Question $11$ pts

Homer, a purchasing agent for Springfield Nuclear Power, Inc., $($SNPI$),$ engages in fraud to obtain an agreement from Tony, a representative for United Business Company $($United$),$ to enter into a contract to purchase from United widgets for SNPI at far below their fair market value.$$ The contract is

Group of answer choices

not valid because Tony was a minor

valid and enforceable because the four requirements for forming a contract $-$ agreement, consideration, legality and capacity $-$ are met.$$

unenforceable because a contract procured by fraud lacks "mutual assent"

none of the above

$$

Flag question: Question $2$

Question $21$ pts

Bart buys a new textbook for $$300,$ a used car for $$5000,$ and orally agrees to buy a house for $$100,000\mathrm{.}00$ from Nelson Flanders.$$ The Statute of Frauds under the Uniform Commercial Code would make Bart's purchase of what property unenforceable?$$

Group of answer choices

the new textbook only.

the house purchase only

the used car purchase only

each of the transactions.

$$

Flag question: Question $3$

Question $31$ pts

Commerical Shipping, Inc., and Dock Services Corporation enter into a contract for Dock to load Commercial's trucks for which Commercial agrees to pay Dock.$$ Dock transfers its duty to load the trucks to East Harbor Transport Company.$$ Dock is

Group of answer choices

a payor

an assignor

a delegator

a righter

$$

Flag question: Question $4$

Question $41$ pts

Krusty Burger order ground beef from Standard Food Supplier, but Standard does not deliver.$$ Krusty's will probably be unable to enforce the agreement if the parties

Group of answer choices

did not limit the duration of the deal

did not specify a payment term

did not specify a quantity term

have not begun to perform

$$

Flag question: Question $5$

Question $51$ pts

Bart Simpson, the manager of Springfield University's soccer team, orally agrees to lease a certain number of specially made SU banners from Top Banners, Inc.$$ This lease is enforceable only if Top has made a substantial start on making the banners and

Group of answer choices

Bart agreed to the lease on behalf of the SU soccer team

SU does not have other, similar banners available

the banners are not suitable for others in the course of Top's business

the soccer season had not ended and SU goes to the finals

$$

Flag question: Question $6$

Question $61$ pts

Recreational Supplies, Inc., $($RSI$),$ and Moe, the owner or Moe's Bar, orally agree to a sale of volleyball equipment for $$1000.$ This contract is

Group of answer choices

unenforceable because it is not in writing

fully enforceable because it is for specially made goods

fully enforceable because it is oral

void for vagueness

$$

Flag question: Question $7$

Question $71$ pts

Uri sells $100$ cases of vitamins to Marge, but before she takes physical possession, the cases are lost.$$ Under the UCC, the parties' rights and obligations with respect to the loss depend on the concept of

Group of answer choices

physical possession

risk of loss

express warranty

title

$$

Flag question: Question $8$

Question $81$ pts

Marge buys an HD TV from Viewpoint Electronics store, which agrees to keep the TV for Marge until she picks it up$.$ Before Marge gets the TV$,$ a fire destroys the store and TV$.$ The loss is suffered by

Group of answer choices

neither Marge nor Viewpoint

Marge and Viewpoint

Viewpoint only

Marge only

$$

Flag question: Question $9$

Question $91$ pts

The Uniform Commercial Code $($UCC$)$ attempts to:

Group of answer choices

provide a consistent body of rules for dealing with criminal violations of the law that involve either securities or government bonds.

provide guidelines for making common law contracts that deal with the sale of land.

Possible Answer

simplify and streamline commercial transactions involving the sale of goods.

$$

Flag question: Question $10$

Question $101$ pts

When a party to a contract breaches the contract, the other party is legally entitled to:

Group of answer choices

files criminal charges against the breaching partythe appropriate government agency only

nothing, because breaches are normally legally permissible and have no legal consequences

sue for money damages

none of the above.