In the Case of Pittsley V.Houser, the Court

question 41

Multiple Choice

In the case of Pittsley v.Houser, the court:

• A)held that the contract should be severed into different parts, applying the UCC to the part of the contract involving goods and the common law to the nongoods part of the contract.
• B)held that the "predominant factor" test contravened the UCC's declared purpose.
• C)applied the "predominant factor" test.
• D)found the CISG governed the contract in question.

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Definitions:

LIFO Method

An inventory valuation method that assumes the last items added to inventory are the first ones to be sold (Last In, First Out).

Periodic Inventory System

An inventory valuation method where the ending inventory and cost of goods sold are determined at the end of the accounting period.

Subsidiary Ledger

A detailed ledger that contains the individual accounts related to a specific category, supplementing the general ledger.

Consignment

An arrangement where goods are left with a third party to sell, but ownership remains with the supplier until the goods are sold.