Biz Law LGS-254-275

  1. A) With regard to each of the following types of property, indicate whether the item fits the definition of GOODS which are COVERED BY THE UCC:
  2. A 5 year old car
  3. Stocks in a blue chip company
  4. Oil to be extracted from the land of another by the buyer
  5. Apples from an orchard, buyer does the picking.
  6. A collection of 5000 comic books
  7. B) In the following business sale transactions, which are most likely to trigger the UCC sec. 2 and why?
  8. Sale of all characters and stories owned by Ajax Comics Inc. to a new publisher.
  9. Sale of Tom’s bar, including all restaurant equipment, decorations, furniture, and fixtures.
  10. Sale of all 100 accounts for Yardie Yard Work and of the company’s name, but 2 pieces of the company’s otherwise aged landscaping equipment.
  11. Sale of Darla’s Discount Warehouse, including all inventory, up to 600,000 SKUs.
  12. Sale of attorney’s client list and current case load to another attorney.
  13. C) Are the following transactions regarded as involving a MERCHANT for purposes of the UCC? Why or why not?
  14. Fola’s Fashion Warehouse is running a going out of business sale. It is in the business of selling women’s clothing and accessories. The transaction is for the sale of the retailer’s shelving, fixtures and other business equipment.
  15. Correy`s Car Emporium runs a sale on its stock of cars.
  16. Billy sells his comic books on the internet as a business.  The transaction involves his sale of his old computer and other tech formerly used for the business.
  17. D) Offers :Sam promises to buy as many face masks as Luke can produce from May to June. Sam does not know the price and leaves that to Luke. He also does not know how many masks to expect. Is Sam’s promise too indefinite to be an offer? Why or why not?  If it is an offer, what type of contract results?
  18. E) ACCEPTANCE

Sara responds to Tom’s offer to buy 100 red mugs, specialty printed with Toms logo, by sending 50 red mugs and 50 blue mugs, because she runs out of red ink and supply of red dye is temporarily unavailable.   

  1. Has Sara accepted Tom’s offer?  Why? B.  Is Sara in breach? C.  What if Sara had sent Tom a note noting the changes and the rationale … what then?
  2. F) Review principles of Contract Formation and answer the following questions:
  3. In a contract which combines goods and services,  how do you determine whether the UCC applies?
  4. In a sales contract, if an offeree includes additional or different terms in an acceptance, may a contract result? If so, what happens to those terms?
  5. UCC secs. 2 and 2A provide what exceptions to the statute of frauds?
  6. EDesign Inc. Orders 150 computer desks from FaveORite, which promptly ships 150 printer stands. Did FavORite accept the offer or make a counteroffer?  If an acceptance, is it a breach of contract? What if FavORite told EDesign that the shipment was accomodation?
  7. G) Case 21.2 Fitl v Strek

Review case 21.2 Fitl v. Strek at page 480 or at 690 N.W.2d 605 (2005)

SUPPOSE THE FACTS WERE DIFFERENT

If the deal had included a written clause requiring Fitl to give notice of any defect in thecard within 7 days to 1 month of the card being received, would the result have been different under the UCC? Why or why not?

  1. E) Review

The Truth About the Infamous McDonald's Hot Coffee Incident (Links to an external site.)

How does the idea of the implied warranty of merchantability play into this case?

 

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