UCC Contracts Quiz

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Questions and Answers

Which contracts require communication of acceptance under the UCC?

  • Bilateral contracts
  • Unilateral contracts (correct)
  • Common law contracts
  • Verbal contracts

What is the difference between the mirror image rule and the UCC rule for contract terms?

  • The mirror image rule allows for different terms, while the UCC requires identical terms.
  • The UCC applies to UCC contracts, while the Mirror Image rule applies to common law contracts. (correct)
  • The mirror image rule allows for different or new terms, while the UCC rule also allows for different or new terms to be added
  • The mirror image rule requires identical terms, while the UCC rule allows for different terms.

What is required for UCC sales agreements?

  • A written contract
  • Consideration (correct)
  • A witness signature
  • A verbal agreement

What is the threshold for the Statute of Frauds to require a writing for contracts?

<p>$500 for goods and $1,000 for lease contracts (A)</p> Signup and view all the answers

Which of the following is not an exception to the Statute of Frauds?

<p>Verbal agreements (D)</p> Signup and view all the answers

What can parole evidence do to fully integrated written contracts?

<p>It can supplement them through consistent additional terms, course of dealing, usage of trade, and course of performance (B)</p> Signup and view all the answers

Which contract terms have priority over course of performance, course of dealing, and usage of trade?

<p>Express terms (A)</p> Signup and view all the answers

What can the court do with unconscionable contracts or clauses?

<p>Both A and B (C)</p> Signup and view all the answers

What does the UCC provide for sales contracts between merchants?

<p>Specific rules and exceptions (A)</p> Signup and view all the answers

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Study Notes

  1. Communication of acceptance is required for unilateral contracts under the UCC.
  2. The mirror image rule applies to common law contracts, but the UCC allows for different or new terms to be added.
  3. Additional terms become part of the contract between merchants unless limited by the offer or materially alter the contract.
  4. Consideration is required for UCC sales agreements, but modifications need not have new consideration.
  5. The Statute of Frauds requires a writing for contracts over $500 for goods or $1,000 for lease contracts.
  6. Exceptions to the Statute of Frauds include specially manufactured goods, admissions, and payment or acceptance.
  7. Parole evidence cannot contradict fully integrated written contracts but can supplement them through consistent additional terms, course of dealing, usage of trade, and course of performance.
  8. Express terms have priority over course of performance, course of dealing, and usage of trade.
  9. Unconscionable contracts or clauses can be refused enforcement or limited by the court.
  10. The UCC provides specific rules and exceptions for sales contracts between merchants.

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