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Q:
Article 2A of the UCC deals with lessors and lessees.
Q:
In a lease contract, the title of goods is passed from the lessor to the lessee.
Q:
________ refers to a warranty that arises where a seller or lessor warrants that the goods will meet the buyer's or lessee's expressed needs.
Q:
A statement that negates express and implied warranties is known as a ________.
Q:
The ________ is a federal statute that regulates written warranties on consumer products.
Q:
Article 2 of the Uniform Commercial Code is also applied by federal courts to sales contracts governed by federal law.
Q:
Article 2 of the UCC applies to sales contracts for the sale of intangible goods.
Q:
________ are damages that will be paid upon a breach of contract that are established in advance.
Q:
The doctrine of ________ governed the law of sales and leases for centuries, before the UCC was adopted.
Q:
A(n) ________ is a warranty created when a seller or lessor makes an affirmation that the goods he or she is selling or leasing meet certain standards of quality, description, performance, or condition.
Q:
A seller or lessor has ________ if he obtained the goods through fraud, if his check for the payment of the goods or lease is dishonored, or if he impersonated another person.
Q:
A transfer of the right to the possession and use of named goods for a set term in return for certain consideration is known as ________.
Q:
The ________ rule permits certain open terms to be "read into" a sales or lease contract.
Q:
If the parties to a sales contract do not agree to the time, place, and manner of delivery of the goods, the place for delivery is ________.
Q:
In a destination contract, the ________ bears the risk of loss of the goods during their transportation.
Q:
The term ________ refers to a situation in which a thief acquires no title to goods he or she steals.
Q:
What is the difference between a full warranty and a limited warranty?
Q:
The ________ refers to a model act that includes comprehensive laws that cover most aspects of commercial transactions
Q:
Article 2 of the UCC governs ________.
Q:
Article ________ of the UCC governs leases of goods.
Q:
What type of transaction is covered under the Magnuson-Moss Warranty Act?
A) consumer transactions
B) commercial transactions
C) industrial transactions
D) governmental transactions
Q:
What are the provisions for contracts with services under Article 2 of the UCC?
Q:
What is the passage of title to goods?
Q:
How does the UCC treat goods that were fraudulently obtained?
Q:
Give an account of express warranties.
Q:
What of the following is true of an "as is" disclaimer?
A) It disclaims all implied warranties.
B) It disclaims all express warranties.
C) It is a type of implied warranty.
D) It cannot be replaced by another warranty.
Q:
Sam expressed interest in buying a painting from Jasper, who claimed that the painting was a family heirloom. Jasper's asking price was $15,000, but Sam was only willing to offer $13,000. Jasper told him that it was a very old painting worth a fortune and that others would gladly pay $20,000 for it. He also told him that he was only selling it under its market value because he needed the money immediately. He then implied that Sam could sell it for a higher rate if he wanted. Sam decided to buy the painting for $15,000 on the condition that if he found that the painting was worth less than $15,000, Jasper would have to take the painting back and refund Sam. Which of the following warranties did this sales contract have?
A) an implied warranty of merchantability
B) an express warranty
C) a statement of opinion
D) an implied warranty of fitness
Q:
Unless properly disclosed, a warranty that is implied that sold or leased goods are fit for the ordinary purpose for which they are sold or leased, as well as other assurances is known as ________.
A) implied volatility
B) implied cause of action
C) implied assertion
D) implied warranty of merchantability
Q:
Which of the following would constitute an implied warranty?
A) affirmation of the facts of the goods
B) description of the goods
C) model or sample of the goods
D) adequate packaging and labeling of the goods
Q:
Pollard entered into a sales contract to purchase a specific Picasso painting from Jenson for $15 million. When Pollard tenders payment, Jenson refuses to sell the painting to the buyer. Which of the following legal rights to remedy can Pollard exercise to retrieve the Picasso painting from Jenson?
A) right to cover
B) right to recover damages for nondelivery
C) right to obtain specific performance
D) right to cancel the contract
Q:
Blue Rorschach Inc. has an immediate requirement for 80 laptops and contracts with Zenzo Electronics 80 Dell laptops at $550 each. But Zenzo Electronics breaches the contract and fails to deliver the laptops. Blue Rorschach then immediately contracts Dell Computers, buys 100 laptops at $600 per laptop, and then sues Zenzo Electronics for the breach of contract.
What legal right to remedy did Blue Rorschach exercise when contracting Dell Computers and suing Zenzo for failure of delivery of goods?
A) right to replevy goods
B) right to cover
C) right to recover damages for accepted nonconforming goods
D) right to obtain specific performance
Q:
A ________ is a seller's or lessor's express or implied assurance to a buyer or lessee that the goods sold or leased meet certain quality standards.
A) bond
B) caveat emptor
C) warranty
D) collateral
Q:
A warranty that is created when a seller or lessor makes an affirmation that the goods he or she is selling or leasing meet certain standards of quality, description, performance, or condition is known as a(n) ________ warranty.
A) implied
B) conditional
C) closed
D) express
Q:
Which of the following would constitute the creation of an express warranty for goods?
A) description of the goods
B) commendation of the goods
C) prior experience with the goods
D) affirmation of the value of the goods
Q:
A title for goods obtained by a seller through fraud, impersonation, or a dishonored check is referred to as a ________.
A) unenforceable title
B) voidable title
C) conditional title
D) unequivocal title
Q:
Steve brings his watch to Knell Watches to be repaired. Knell Watches sells and repairs watches. Steve entrusts his watch at Knells' until it is repaired. The watch store repairs the watch, but then sells it to Kevin, who buys the watch with a fraudulent check that bounced. Kevin then resells the watch to his friend Jonathan, who is unaware of the stolen nature of the watch. Who can legally claim ownership over the watch in court?
A) Jonathan
B) Steve
C) Knell Watches
D) Kevin
Q:
Who among the following is a good faith purchaser?
A) a person who buys goods from a person with a voidable title
B) a person who buys stolen goods without being aware of it
C) a buyer who agrees to hold goods for a person till the delivery of the goods is made
D) a buyer to whom goods are delivered by a seller to sell on the seller's behalf
Q:
In which of the following does a seller have the right to stop delivery of goods in transit regardless of the size of the shipment?
A) if the buyer repudiates the contract
B) if the buyer has payments due
C) if the seller learns of the buyer's insolvency
D) if the seller has been ordered for specific performance
Q:
Klint Microsystems, a microprocessor manufacturer, was contracted by Zeitar Studios to manufacture specially designed microchips to be used in an audio engineering process. Zeitar was to pay Klint $300,000 as per the contract. Klint decided to redesign their existing microchips and make them suitable for Zeitar. While the finished microchips were being shipped via a carrier, Klint was informed of Zeitar's insolvency. Klint cancelled the shipment before it was delivered. Klint then resold the chips to another Studio where they had to settle for $150,000, as the chips were now only suitable for specific audio engineering processes.
What right to remedy did Klint exercise when they stopped shipment to Zeitar?
A) right to dispose of goods
B) right to stop goods in transit
C) right to obtain specific performance
D) right to recover purchase rent
Q:
The ________ makes it a crime to intercept an electronic communication at the point of transmission, while in transit, when stored by a router or on a server, or after receipt by the intended recipient.
Q:
Registering a domain name of another party's trademarked name or famous person's name in bad faith is called ________.
Q:
The ________ permits trademark owners and famous persons to recover domain names that use their names where the domain name has been registered by another person or business in bad faith.
Q:
A(n) ________ grants the licensee exclusive rights to use informational rights for a specified duration.
Q:
A(n) ________ refers to a contract whereby the owner of software or a digital application grants limited rights to the owner of a computer or digital device to use the software or digital application for a limited period and under specified conditions.
Q:
________ are state laws that require certain types of contracts to be in writing.
Q:
A(n) ________ is any computer system that has been established by a seller to accept orders.
Q:
The ________ is a model state law that creates contract law for the licensing of information technology rights.
Q:
The term ________ refers an owner of intellectual property or informational rights who transfers rights in the property or information to another party.
Q:
The term ________ refers to a party who is granted limited rights in or access to intellectual property or informational rights owned by a licensor.
Q:
The ________ is an electronic connection of millions of computers that support a standard set of rules for the exchange of information.
Q:
The ________ is a federal statute that places certain restrictions on persons and businesses that send unsolicited commercial advertising to e-mail accounts, prohibits falsified headers, prohibits deceptive subject lines, and requires spammers to label sexually oriented e-mail as such.
Q:
The ________ provides that Internet service providers are not liable for the content transmitted over their networks by e-mail users and websites.
Q:
The ________ gives an e-signature the same force and effect as a pen-inscribed signature on paper.
Q:
How does an electronic agent react to a counteroffer? Explain with an illustration.
Q:
Explain in brief the working of an e-license.
Q:
Joan reads e-mails from Harold's personal e-mail folder. Which statute has Joan violated and why? Under what circumstances is she permitted to read Harold's e-mail?
Q:
What is cybersquatting? Can trademark owners recover domain names registered in bad faith?
Q:
The World Wide Web consists of millions of computers that support a standard set of rules called ________ for the exchange of information.
Q:
Jonathan Smith, a neurosurgeon in Oregon, wants to start a website that makes it possible for neurosurgeons across the world to work on cases in collaboration. Which of the following domain extensions is most apt for Smith's website?
A) .com
B) .org
C) .edu
D) .pro
Q:
The ________ issued new rules that permit a party to register a domain name with new TLD suffixes that are personalized.
A) UCITA
B) ACPA
C) ICANN
D) ECPA
Q:
The ________ is a federal statute that permits trademark owners and famous persons to recover domain names that use their names where the domain name has been registered by another person or business in bad faith.
A) UCITA
B) ACPA
C) ICANN
D) ECPA
Q:
What measures has Congress taken to regulate spam e-mail?
Q:
Who among the following can access Henry's stored electronic communications without violating the ECPA?
A) Henry's colleague at work, who is working on the same project as Henry and needs information.
B) Henry's wife who suspects him of cheating on her.
C) Henry's boss who suspects him of leaking confidential information.
D) Henry's personal finance advisor who wants to see if he has sufficient funds to make an investment.
Q:
A(n) ________ uniquely identifies an individual's or company's website.
A) e-signature
B) digital footprint
C) e-mail address
D) domain name
Q:
What is the first step in registering a domain name?
A) determining whether any other party already owns the name
B) determining if the name does justice to the image of the company or individual
C) finding an extension that attracts maximum web traffic
D) enrolling with a service provider to host the website
Q:
Which of the following domain extensions signifies a resource website?
A) .com
B) .org
C) .edu
D) .info
Q:
________ is the most widely used domain extension in the world.
A) .net
B) .com
C) .biz
D) .org
Q:
A(n) ________ is a contract whereby the owner of software or a digital application grants limited rights to the owner of a computer or digital device to use the software or digital application for a limited period and under specified conditions.
A) e-license
B) Terms of Service document
C) domain
D) digital signature
Q:
KCube Multimedia launches a new game. It permits Ken to download, install and play the game for three months. This is an instance of ________.
A) e-license
B) contract
C) domain name registration
D) digital signature
Q:
While downloading a license to a software program, Harriet reads the Terms of Agreement document which states that the company is not liable for any unforeseen damages that arise from the software. Harriet clicks on "Accept" and continues to install the program. The document is an example of a ________.
A) digital signature
B) digital identification
C) licensing agreement
D) implicit contract
Q:
The ________ is a federal statute that makes it a crime to intercept an electronic communication at the point of transmission, while in transit, when stored by a router or server, or after receipt by intended recipient.
A) UCITA
B) ECPA
C) ACPA
D) ICANN
Q:
Which of the following does the ECPA provide?
A) Businesses are allowed send spam e-mails, as long as they do not lie.
B) ISPs are not liable for the content transmitted over their networks by e-mail users and websites.
C) An e-signature is as effective as a pen-and-paper signature.
D) It is a crime to intercept an electronic communication at the point of transmission.
Q:
Which of the following is true of a license?
A) A license grants the licensee complete control over intellectual property.
B) An exclusive license is granted to only one licensee for a specific period.
C) A licensee has complete control over the information he or she is allowed to access.
D) A licensee has the right to use information rights beyond the licensor's control that are necessary to exercise the expressly described rights.
Q:
What is an exclusive license?
A) a license that grants access to exclusive information for a limited period
B) a license that restricts the licensee to some information only
C) a license that is granted to only one party for a specific period
D) a license that grants access to exclusive intellectual property
Q:
A(n) ________ is an owner of intellectual property or informational rights who transfers rights in the property or information to another party.
A) lessor
B) lessee
C) licensee
D) licensor
Q:
A(n) ________ refers to a party who is granted limited rights in or access to intellectual property or informational rights owned by another party.
A) lessor
B) lessee
C) licensee
D) licensor
Q:
Jessica wants to buy a laptop from the Tell Computers website. Before confirming the purchase, the website asks her to provide biometric identification using an electronic scanner. This is an example of ________.
A) e-licensing
B) e-signature
C) exclusive license
D) cybersquatting
Q:
Which of the following is an example of an e-signature?
A) using a credit card at the supermarket to pay for groceries
B) using a debit card to fill gas as the local gas station
C) ordering Chinese food over the phone and paying with a credit card
D) paying the electric bill online using a smart card
Q:
Most web pages use electronic ordering systems that do not have the ability to evaluate and accept ________.
A) counteroffers
B) e-licenses
C) e-signatures
D) biometric data
Q:
The ________ establishes a uniform and comprehensive set of rules that govern the creation, performance, and enforcement for computer information transactions.
A) CAN-SPAM Act
B) UCITA
C) ECPA
D) ACPA