TRUE/FALSE: (Place \"True\" or \"False\" nextto the corresponding question number on the Answer Sheet) 1 Point Each 1. If the parties to a sales contract do not agree to the time. place. and manner of delivery of the goods, the place for delivery 1s the seller's place of business. b Acceptance of nonconforming goods is a breach of contract by the buver. 3 In a sale on approval, there is no sale unless and until the buver accepts the goods. 4. The measure of damages for nondelivery 1s the difference between the contract price and the market price at the time the breach is realized. L Pre-established damages mentioned in a contract are known as liquidated damages. 6. A seller's or lessor's statement of opinion or commendation of the goods creates an EXpress V\\ma.l:\\-'. A check 1s a type of promissory note 8 Security posted by promissory note maker to the lender for repavment of money is known as collateral 9 A person cannot be held contractually liable on a negotiable instrument unless his or her signature appears on it. 10. Fraud in the inception is a type of personal defense