Question

Sales and Leases Name Date 1. The or tender of delivery fails in any way to conform to contract specifications, the buyer / lessee may accept the goods, reject the entire shipment or accept part and reject part. Rule indicates that if goods 2. (TRUE / FALSE). The Common Law requires the Perfect Tender of goods. 3. (TRUE / FALSE). The lack of Perfect Tender is not fatal to a contract when the seller can effectively cure the defect. 4. The seller / lessor's right to cure the delivery of nonconforming goods is dependent upon: a. Time Remaining for Performance b. The Degree of Nonconformity c. Diversity Jurisdiction 5. The UCC will consider "industry custom" when interpreting the rights and responsibility of a party to a contract for the sale or lease of goods. a/k/a 6. (TRUE / FALSE). Under the UCC the seller / lessor must normally provide an opportunity for the purchaser / lessee to inspect the goods before seeking to enforce their right to payment. 7. This legal concept governs the purchaser's / lessee's inspection of goods: a. Course of Performance b. Reasonableness c. Usage of Trade

Answer 1

1.

Perfect Tender Rule

It states that the supplier has to supply goods that conform to the contract specifications. The buyer has a right if goods don't match the specifications.

2.

True

Seller has to send goods which conform to specification mentioned in the contract.

3.

Ture

Buyer can reject the goods till the seller removes the defects if any in the goods provided.

4.

A. It is dependent on the time remaining for performance i.e the time specified in the contract by which goods with be handed to the buyer matching all the specifications.

5.

Perfect Tender Rule

This is an implied thing in the contract that the specifications will be met accoring to the contract done. It also gvies rights to the seller against non acceptance.

6.

True

The goods are checked for specifications mentioned in the contract and then accepted.

7.

Course of performance

It tells that a buyer can inspect goods before making payment while performing the contract.

8.

ConformingGoods

These are goods that match the specifications and are accepted out f the lot delivered.