Question

In: Economics

True or False? 1. The seller's basic obligation under the UCC is to transfer and deliver...

True or False?

1. The seller's basic obligation under the UCC is to transfer and deliver goods to the Buyer that conform to the contact.

2. A Buyer's remedies under the UCC include the right to (i) accept the non-conforming goods; (ii) reject the non-conforming goods; or (iii) accept in part and reject part of the non-conforming goods.

3. If the Seller delivers conforming goods to the contract, then the Buyer may reject them if the Buyer changes his mind.
4. A warranty is a statement or representation made by the Seller that his goods conform to certain standards of quality, safety, performance, and title.

5. Parties' doing business internationally can specify what law governs in the terms of their contract.

Solutions

Expert Solution

Answer: 1

True

Explanation:

: under UCC sellers primary obligation is tender of delivery.

: it also mean that the seller hols the goods where the buyer can take possession of them.

Answer: 2

True

Explanation:

: According to Artical 2 UCC ( Uniform Commercial Code) outlines the buyer's remedies in different sub-section.

: There are numerious remedies that can apply when a seller breaches a sales contract.

: under-section2(608) of UCC under artical 2 , if the acceptance was due to a latent defect that could not reasonably have been discovered before acceptence.

Answer: 3

True

Explanation:

: If goods or the delivery does not conform to the contract then the seller has to cure the defect under the certain circumstance. if the seller does not cure then buyer may reject the goods .

Answer:4

True

Explanation:

: A warranty is a guarantee that product meets certain standards of performance.

: Under UCC warranty is based on contract law and constitutes a biniding promises.

: If the promise that a product meets certain standards of performance is not fulfilled then buyer may bring a claim of product liablities against the maker of the promise.

Answer: 5

True

Explanation:

: A company usually prefer to have the law of their own jurisdiction govern a contract while doing business internationally beacause they are more familiar with their own law.

: Choice of law of a contract is the body of the law that will govern the interpretation and enforcement of the contract.

Rahul Sunny answered 1 year ago

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