If Parties to a Contract Involving a Sale of Goods

question 131

Multiple Choice

If parties to a contract involving a sale of goods fail to specify price, and if there is dispute, so that a court must determine the price, under the UCC the price will be:

• A) no price, as there will be no contract in such a situation
• B) the price that the plaintiff specifies
• C) the price that the defendant specifies
• D) the price that a court-appointed arbitrator determines
• E) none of the other choices

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Definitions:

Mental Age

A concept used to describe the level of intellectual development as measured by standardized tests compared to an individual's chronological age.

IQ

stands for Intelligence Quotient, a measure of a person's intellectual abilities relative to others, based on performance on standardized tests.

Consistent

Showing steady and uniform characteristics or behavior over a period of time, lacking any significant variation.

Reliable

The extent to which an assessment tool produces consistent and stable results over multiple applications or time periods.