Under the UCC, Which of the Following Is True If

question 15

Multiple Choice

Under the UCC, which of the following is true if goods are identified at the time the parties entered into a contract and these goods are partially destroyed through no fault of the parties before risk passes to the buyer or lessee?

• A) The contract is void.
• B) The buyer may inspect the goods and decide whether to (1) treat the contract as void or (2) ask the seller for a reduction of the contract price and then accept the damaged goods.
• C) The seller may inspect the goods and decide whether to (1) treat the contract as void or (2) offer the buyer a reduction of the contract price for the damaged goods.
• D) Unless the parties can agree on a price, the matter must be submitted to arbitration for a determination as to an appropriate price.
• E) Unless the parties can agree on a price, the contract is voidable at the option of the seller.

Illustrate the processes and models related to relational turbulence and resolution.

Identify the importance of supportive communication during difficult times and loss.

Understand the principles of expected outcomes and decision-making in cognitive psychology.

Recognize the role of rewards in learning and behavior modification.

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Definitions:

Relevant Cost

Costs that will be affected by a decision in the future and therefore should be considered in the decision-making process.

Direct Labor Cost

Expenses associated with the wages and benefits of employees who are directly involved in the manufacturing process.

Financial Advantage

The benefit obtained from making a particular financial decision, typically resulting in monetary gain or cost savings.

Outside Supplier

A third-party company or entity that provides goods or services to another company, external to the buying organization.