PunjabiKuri
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10. Brent received a tie in the mail that he never ordered. Accompanying the tie was a letter stating that if he did not return the tie within ten days, he would be billed for it. Brent threw the tie in a drawer and forgot about it and ignored the bills that were mailed to him. Must he pay?
a. No, as long as he returns the tie.
b. No, because persons receiving unordered merchandise may treat the merchandise as a gift and dispose of it any way they want.
c. Yes, if he decides to keep the tie.
d. Yes, because Brent did not return the tie, his actions proved acceptance of goods.
11. The UCC deals with contracts to
a. sell real property and everything attached to it
b. sell goods
c. to sell goods in the future
d. both b and c
12. Goods are defined as
a. tangible, movable real property, such as cars, clothes, books, etc.
b. tangible and intangible movable personal property, such as cars and car repair, etc.
c. tangible, movable personal property, such as land, houses, barns, etc.
d. tangible, movable personal property, such as computers, tomatoes, timber, etc.
13. Acceptance of goods means the buyer
a. has agreed to enter the contract to purchase the goods for sale
b. has taken the goods purchased into possession
c. has agreed by word or by action that the goods received are satisfactory
d. made payment to the seller in receipt of the goods.
14. A sale is a contract in which _______ of goods transfers immediately from the seller to the buyer for a price.
a. ownership only
b. title only
c. title and ownership
15. Adulterated food, drugs, or cosmetics means the product
a. contains any substance mixed or packed that makes the product's quality or strength below minimum standards
b. contains substances that could be injurious
c. contains inferior ingredients
d. contains substances that are contaminated
16. Which consumer law prohibits unfair and deceptive acts or practices?
a. the Uniform Commercial Code (UCC)
b. the Federal Trade Commission Act of 1914
c. the Magnuson-Moss Warranty Act
d. the Consumer Product Safety Act
17. This deceptive, illegal practice occurs when a seller advertises a nonexistent bargain to attract customers so the seller can sell them more expensive merchandise.
a. deceptive pricing
b. false advertising
c. bait and switch
d. unfair and deceptive trade
18. When a merchant sells a product with no warranty, what word or words must be mentioned in a
disclaimer?
a. limited
b. merchantability
c. no warranty
d. fitness
19. Goods of an identical (or equal) nature to every other unit are considered
a. existing goods
b. fungible goods
c. future goods
d. identified goods
20. All the following are considered express warranties except
a. exaggerated sales talk known as puffing
b. any description, sample, or model of goods that is part of a transaction
c. a statement of an existing fact or a promise of something that may happen in the future
d. statements made during a sales transaction
a. No, as long as he returns the tie.
b. No, because persons receiving unordered merchandise may treat the merchandise as a gift and dispose of it any way they want.
c. Yes, if he decides to keep the tie.
d. Yes, because Brent did not return the tie, his actions proved acceptance of goods.
11. The UCC deals with contracts to
a. sell real property and everything attached to it
b. sell goods
c. to sell goods in the future
d. both b and c
12. Goods are defined as
a. tangible, movable real property, such as cars, clothes, books, etc.
b. tangible and intangible movable personal property, such as cars and car repair, etc.
c. tangible, movable personal property, such as land, houses, barns, etc.
d. tangible, movable personal property, such as computers, tomatoes, timber, etc.
13. Acceptance of goods means the buyer
a. has agreed to enter the contract to purchase the goods for sale
b. has taken the goods purchased into possession
c. has agreed by word or by action that the goods received are satisfactory
d. made payment to the seller in receipt of the goods.
14. A sale is a contract in which _______ of goods transfers immediately from the seller to the buyer for a price.
a. ownership only
b. title only
c. title and ownership
15. Adulterated food, drugs, or cosmetics means the product
a. contains any substance mixed or packed that makes the product's quality or strength below minimum standards
b. contains substances that could be injurious
c. contains inferior ingredients
d. contains substances that are contaminated
16. Which consumer law prohibits unfair and deceptive acts or practices?
a. the Uniform Commercial Code (UCC)
b. the Federal Trade Commission Act of 1914
c. the Magnuson-Moss Warranty Act
d. the Consumer Product Safety Act
17. This deceptive, illegal practice occurs when a seller advertises a nonexistent bargain to attract customers so the seller can sell them more expensive merchandise.
a. deceptive pricing
b. false advertising
c. bait and switch
d. unfair and deceptive trade
18. When a merchant sells a product with no warranty, what word or words must be mentioned in a
disclaimer?
a. limited
b. merchantability
c. no warranty
d. fitness
19. Goods of an identical (or equal) nature to every other unit are considered
a. existing goods
b. fungible goods
c. future goods
d. identified goods
20. All the following are considered express warranties except
a. exaggerated sales talk known as puffing
b. any description, sample, or model of goods that is part of a transaction
c. a statement of an existing fact or a promise of something that may happen in the future
d. statements made during a sales transaction