How many states have failed to adopt any portion of the UCC? Multiple Choice 0 7 5 4 18 2. Fred’s Fi

How many states have failed to adopt any portion of the UCC?

Multiple Choice

• 0

• 7

• 5

• 4

• 18

• 2.

  Fred’s Fireplaces enters into a contract with Miguel’s Patio Supply in which Miguel’s agrees to purchase 20 fireplaces. Fred does not deliver the fireplaces,so Miguel purchases fireplace from Joe’s Chimney’s instead. Joe’s charges significantly above market rate, but Miguel pays anyway because Miguel intends to sue Fred for the difference. Did Miguel act appropriately?

  Multiple Choice

• No because obtaining substitute goods is permitted only if the quantity shipped is large

• Yes, because a buyer can always cover, even at an unreasonable price.

• No because obtaining substitute goods in the event of breach is appropriate only if the contract is for at least 50 units of goods.

• No, because the UCC requires buyers to notify sellers before obtaining substitute goods.

• No because Miguel did not act in good faith and he overpaid for the goods.

• 3.

  What is the ultimate goal of contractual remedies?

  Multiple Choice

• To provide a private system of justice

• To punish those who breach contracts.

• To deter parties from breaching contracts

• To enforce social order.

• To compensate breach victims

 

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