CPCU 410 Module 4 Test Bank


Page 1 of 5

1. Article 2 of the Uniform Commercial Code applies to:

2. The Uniform Commercial Code governs all of the following, EXCEPT:

3. Which one of the following statements is correct regarding sales contracts?

4. If a contract does not specify the price or provide a method to determine the price, the price becomes the reasonable price:

5. Which one of the following statements is correct regarding warranties relating to a sales contract?

6. Implied warranties can arise from the parties’ course of dealings or particular trade. If the seller is a merchant, which of the two implied warranties apply?

7. If a seller successfully sues for breach of a sales contract, the seller can recover the difference between the contract and the market price at the time of:

8. A purchaser of merchandise can revoke an acceptance of goods under all of the following circumstances, EXCEPT:

9. Office Stuff, an office supply store, ordered 500 computer memory sticks from Computer Supplies, Inc for a total purchase price of $1,500. Computer Supplies, Inc. failed to deliver the memory sticks in one month as promised, so Office Stuff was forced to purchase the memory sticks from a local supplier for $2,000. If Office Stuff sues Computer Supplies, Inc, they would be entitled to recover:

10. Which one of the following represents a provision of the Equal Credit Opportunity Act?