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BUSN 420 BUSN420 Quiz 5 with Answers

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BUSN 420 Business Law Quiz 5 Answers

  1. (TCO 5) Trendee Clothiers, Inc., sells t-shirts to U-Pik-It Stores, Inc., under an existing contract. When textile costs increase, U-Pik-It agrees to a price increase, but later wants to cancel the contract. U-Pik-It may
  2. (TCO 5) Doctors Clinic orders 1,000 bandages from Emergency Supplies Company but fails to specify the sizes. The bandages are delivered in an assortment of sizes. Doctors Clinic may
  3. (TCO 5) Centrex Computer Company offers to sell Deluxe Vehicle Sales Corporation 1,000 computers for a $500,000, states that the offer will be open for six days, and asks for a response by fax. On the fourth day, Deluxe sends an acceptance to Centrex via the mail, which is received on the sixth day. In this deal
  4. (TCO 5) Equipt Rental Corporation and Family Custodial Service, Inc., are parties to an oral agreement for a lease of goods with payments in excess of $10,000. They may satisfy the Statute of Frauds by
  5. (TCO 5) Rally Corporation enters into a contract to sell ski gear to SnoSportzCompany, which sells a pair of the skis to Tyra, a consumer, who later sells them to Uli, another consumer. Article 2 of the UCC applies to the sales transactions between
  6. (TCO 6) The Internal Revenue Service (IRS) wants to seize certain documents of Monetary Propriety, Inc. Whether it is permissible for the IRS to request or seize the documents depends on whether the documents are _____
  7. (TCO 6) The Nuclear Regulatory Commission (NRC) files a complaint against General Construction Corporation (GCC). GCC may want to settle the dispute, before formal adjudicatory proceedings begin, to avoid
  8. (TCO 6) Seafood Restaurant Company pays income and other taxes collected by the Internal Revenue Service (IRS). Like other federal administrative agencies, the IRS was created by
  9. (TCO 5) High sues the manufacturer, wholesaler, and retailer for bodily injuries caused by a power saw High purchased. Which of the following statements is correct under strict liability theory?
  10. (TCO 5) Under the Sales Article of the UCC, which of the following events will release the buyer from all its obligations under a sales contract?

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