I need help with a Communications question. All explanations and answers will be used to help me learn.
1.) A check that is made payable to a specific person is
A. a special endorsement
B. a blank endorsement
C. a restrictive endorsement
D. none of the above
2.) A promise to pay later is using a negotiable instrument called
A. a check
B. a promissory note
C. a draft
D. a dollar bill
3.) Risk of loss cannot pass from seller to buyer unless the goods are identified to the contract.
A. True
B. False
4.) Identification is the express designation of the goods provided for in a contract.
A. True
B. False
5.) A contract between Fresh Fruit Corporation and Green Grocer, Inc., requires Fresh Fruit to deliver goods to Green Grocer’s place of business. This is
A. a bill of lading.
B. a destination contract.
C. a shipment contract.
D. a warehouse receipt.
6.) Under the UCC, if a contract does not designate the place of delivery for the goods, and the buyer is expected to pick them up, the place of delivery is the seller’s place of business.
A. True
B. False
7.) If goods fail in any respect to conform to the contract, the buyer or lessee cannot accept the goods.
A. True
B. False
8.) Under the perfect tender rule, if tender is not perfect, the seller has no right to attempt to cure.
A. True
B. False
9.) Warranties of title arise automatically in most sales contracts.
A. True
B. False
10.) Bait-and-switch advertising occurs if the seller fails to have reasonably adequate quantities of the advertised item available.
A. True
B. False
11.) Crunchy Inc. makes claims in its advertising about its snack products. Crunchy’s claims would most likely be deemed deceptive if the claims
A. mislead a reasonable consumer.
B. contain vague generalities.
C. consist of puffery.
D. include obvious exaggerations.
12.) A bearer is a person to whom an instrument is made payable.
A. True
B. False
13.) To borrow funds to finance his business, Rollo executes an instrument in favor of Security Bank. For the instrument to be negotiable, the signature must be
A. anywhere on the instrument.
B. anywhere on the lower half of the instrument only.
C. in the lower left-hand corner of the instrument only.
D. in the lower right-hand corner of the instrument only.
14.) A holder is a person who, by the terms of a negotiable instrument, is legally entitled to enforce payment of it.
A. True
B. False
15.) Sergio makes a gift of a check to Todd who takes it in good faith and without notice of any claim, defense, or defect. With respect to this check, Todd is
A. none of the choices.
B. an assignee.
C. an ordinary holder.
D. an ordinary holder in due course.
16.) The majority of courts treat contracts for services as being included under the UCC.
A. True
B. False
