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.

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Definitions:

Natural Selection

Darwin's theory by which traits that enhance survival and reproduction become more common in successive generations of a population.

Successive Generations

Refers to the series of offspring that follow one after another in a biological lineage, each inheriting genetic material from the previous generation.

Mating Between Relatives

The breeding of organisms that are closely related genetically, often leading to an increased chance of hereditary health problems.

Population Genetics

The study of the distribution and changes of allele frequency in a population, as influenced by evolutionary processes.