Question

In: Finance

9. _______________ is a warranty that goods sold are properly identified and ready for resale. 10....

9. _______________ is a warranty that goods sold are properly identified and ready for resale.

10. ______________ is the seller’s right to correct anything that may be wrong with his goods under the UCC.

11. ______________ is the name of damages under the UCC for the buyer should the seller not deliver the goods. It is the difference between the contract price and the price of the replacement goods obtained. You must use the name we discussed in class—no other answer will be accepted.

12. _______________ is the name of the seller’s damages under the UCC should the buyer not take conforming goods. It is the difference between the contract price and the price the seller can sale the goods for. You must use the name we discussed in class—no other answer will be accepted

13. _______________ T or F, pre-agreed upon damages provisions are consistently allowed by Alabama courts.

14. ________________ is a term that refers to a seller simply holding goods out for a sufficient time for a purchaser to take the goods.

15. _________________ is a type of contract under the UCC where the goods sold are not to be moved as part of the sale (transportation is not a part of the contract).

16. _________________ is a type of contract under the UCC where the goods are to be placed into the hands of a common carrier. (transportation is a part of the contract).

17. __________________ is a particular type of number 16 above where the seller agrees to get the goods to a particular destination.

18. __________________ is a particular type of number 16 above where the seller agrees to get the goods to a particular shipper for further travel at the buyer’s direction/responsibility.

19. ___________________ is a type of contract where the responsibility for the risk of loss remains on the seller until the buyer accepts the goods.

20. ___________________ is a type of contract where the responsibility for the risk of loss remains on the buyer until the goods are received back by the seller, should they not be sold.

Expert Solution

As per rules I will answer the first 4 subparts of the question

9: Implied warranty of merchantability is based on the idea that the product will work as expected. It is in proper condition and ready for sale.

10. Curing defective goods

The ucc provides the seller the opportunity to correct anything that may be wrong with the goods that he has delivered. This opportunity is provided in two situations

Whether goods were rejected due to non conformity and where the seller had Grounds to believe that the goods would be acceptable to the buyer without or with a discount.

11. Buyer\'s damages for non-delivery or repudiation

After a breach of non delivery the buyer may accept substitute goods from the seller. This represents the damages as the difference between the cost of cover and the contract price along with any incidental damages.

12. Seller’s Damages for Non-Acceptance or Repudiation

In case of non acceptance by the buyer the damages are measured as the difference between the resale price and the unpaid contract price along with incidental expenses.

jeff jeffy answered 2 years ago

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