38. T/F One of the requirements for Frustration of Purpose is that both parties were aware at the time that the contract was formed that one of the parties had a particular purpose for entering into the contract. 39. T/F A tender of performance occurs when the tendering party is ready, willing and able to perform and makes an unconditional offer to perform the contract duties. 40. T/F A novation occurs when a new party replaces one of the original contract parties as the result of an agreement between all 3 parties. 41. T/F A breach of contract of a UCC contract occurs when one of the parties violates the Perfect Tender Rule. 42. T/F The following is an example of a condition precedent: A enters into a written contract to sell goods to B. The contract provides, under the heading ""Conditions of Sale,"
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False. A breach of contract of a UCC contract occurs when one of the parties fails to perform their obligations under the contract, not specifically violating the Perfect Tender Rule. Show more…
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Under the UCC, if a written contract requires delivery of goods by a common carrier but does not state whether it is a destination contract or a shipment contract, then the contract is either a shipment contract or destination contract depending on the seller's choice. TRUE OR FALSE When Deshawn finished taking a math course, he sold his math textbook to Sherri who registered to take the same course next semester. Under the UCC's definition of "merchant", Deshawn is a merchant or a non-merchant depending on whether he made a profit on the transaction. TRUE OR FALSE Seller contracted to sell lumber to the buyer. The delivery contract stated that it was a destination contract. While being transported by the carrier, the lumber was destroyed before it arrived at the destination. The carrier's insurance has refused to cover the cost of the destroyed lumber. When the lumber was destroyed, the risk of loss was on the seller. TRUE OR FALSE Under the Parol Evidence Rule, evidence of contradictory prior agreements and contemporaneous oral agreements is admissible except as to parties' course of dealing. TRUE OR FALSE Morro Beverage Company has a surplus of carbon dioxide (which puts the bubbles in Morro beverage). Morro agrees to sell the surplus to the Rock Ale Company. Morro is a merchant with respect to both Morro beverages and carbon dioxide. TRUE OR FALSE A buyer and a seller cannot have an insurable interest in the same goods at the same time. TRUE OR FALSE Nora leaves her car with OK Auto Sales & Services for repairs. OK sells the car to Pete, who does not know that OK has no legal right to sell the car. Nora can recover from OK and Pete. TRUE OR FALSE Under a contract with QT Corp., Gold Medical ships an assortment of medical supplies. When QT opens the crates, it discovers that the supplies are the wrong assortment, but agrees to accept them anyway. The risk of loss passed to QT when it accepted the supplies. TRUE OR FALSE If identified goods are destroyed through no fault of either party, and risk has not passed to the buyer, the parties are excused from performance. TRUE OR FALSE In an installment contract, a buyer can reject any installment for any reason. TRUE OR FALSE A contract cannot involve both an implied warranty of merchantability and an implied warranty of fitness for a particular purpose. TRUE OR FALSE A statement or promise of fact made during the bargaining process are express warranties. TRUE OF FALSE
Akash M.
Clearly state whether each of the following legal propositions is True or False. 13. In the case of Carlill v Carbolic Smoke Ball Company (1893), the court held that, the advertisement by the company amounted to an invitation to treat, and not an offer. True or False (0.5 mark) 14. Under business law, the word warranty entails a less important term of a contract than a condition. True or False (0.5 mark) 15. Under the law of contract, damages are an equitable remedy intended to restore the party who has suffered a loss, to the same position they would have been if the contract had been performed. True or False (0.5 mark) 16. Under a contract of guarantee, a person who borrows money from the bank, typically, is called a surety or guarantor. True or False (0.5 mark) 17. Under the law of agency, a minor can generally be an agent. True or False (0.5 mark) 18. Strictly speaking, summary dismissal and constructive dismissal are one and the same thing. True or False (0.5 mark) 19. A limited company always has more financial resources than, for example, a sole trader business. True or False (0.5 mark) 20. Under employment law, reinstatement and re-engagement are not conceptually dissimilar. True or False (0.5 mark)
Laws that apply to traditional business activity conducted on paper also apply to e-commerce. a. True b. False Which of the following could be protected by a commercial bakery as a trade secret? a. A new process for preserving packaged cookies b. The bakery's logo c. The bakery's plan for a new marketing strategy. d. All of the above e. A and c only. Kim Kardashian's right to charge a fee for the use of her photo in a magazine ad is an example of: Outsourcing Personality rights Privacy rights Trademark rights Paul's Plaids ("PP"), a Canadian flannel shirt manufacturer, hired Rosie to act as its agent in Australia. Under Rosie's agreement with PP, she is only authorized to enter into contracts with a value of Cdn $50,000 or less. PP has not done anything to tell the customers about this limit so potential customers are unaware of this restriction. Rosie negotiates a contract for a sale of Cdn $100,000 worth of plaid shirts with a Sydney department store, and signs the contract on behalf of PP. Is PP bound by the contract? a. Yes, because Rosie had apparent authority to enter into the contract. b. No, because Rosie did not have actual or apparent authority. c. No, because Rosie was not authorized to enter into contracts for this amount. d. Yes, because Rosie had actual authority to enter into the contract. Under the legal principle of privity of contract, only the parties to the contract can sue to enforce the obligations referred to in the contract. a. True b. False A country that has signed and ratified the New York Convention has agreed to: a. Only enforce arbitrations conducted in the International Chamber of Commerce's Court of Arbitration. b. Enforce judgments of the courts of other contracting parties as though they were judgments of its domestic courts. c. Enforce international arbitration awards as though they were judgments of its domestic courts. d. Only enforce arbitration awards if the arbitration was conducted pursuant to an arbitration clause.
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