What Do UCC Sections 2-601 and 2A-509 Indicate in Reference

question 62

Multiple Choice

What do UCC sections 2-601 and 2A-509 indicate in reference to the perfect tender rule?

• A) That if goods or tender of delivery fail in any respect to conform to the contract, the buyer/lessee has the right to accept the goods, reject the entire shipment, or accept part and reject part.
• B) That if goods or tender of delivery fail in any material respect to conform to the contract, the buyer/lessee has the right to accept the goods, reject the entire shipment, or accept part and reject part.
• C) That if goods or tender of delivery fail in any respect to conform to the contract, the buyer/lessee has the right to accept the goods or reject the entire shipment, but not the right to accept part and reject part.
• D) That if goods or tender of delivery fail in any material respect to conform to the contract, the buyer/lessee has the right to accept the goods or reject the entire shipment, but not the right to accept part and reject part.
• E) That if goods or tender of delivery fail in any respect to conform to the contract, the buyer/lessee only has the right to accept the entire shipment and sue for damages.

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Definitions:

Buyout Price

The agreed-upon amount required to purchase someone's interest in a property, business, or contractual obligation, usually predetermined in a contractual agreement.

Nonwrongfully Dissociated

Pertaining to partners or members leaving an entity like a partnership or limited liability company under conditions that do not violate the agreement or law.

Extraordinary Decision

A decision that goes beyond normal or routine operations, often requiring a higher level of authority or consent within an organization.

Unanimous Partner

This term likely relates to the requirement in some partnership agreements that all partners must agree on certain decisions, although it is not a standard legal term.