Business Law

KnowledgeCheckWeek4.docx

Article 9 of the UCC regulates sales contracts.

Question 1 options:

	A) True
	B) False

Question 2 (1 point)

There are four elements required for a valid contract.

Question 2 options:

	A) True
	B) False

Question 3 (1 point)

Consideration must be something tangible such as money.

Question 3 options:

	A) True
	B) False

Question 4 (1 point)

A contract that provides that one party has to perform only if he or she feels like it is illusory and not supported by consideration.

Question 4 options:

	A) True
	B) False

Question 5 (1 point)

A contract is void if a person has been declared mentally incompetent by a court of law and a guardian has been appointed.

Question 5 options:

	A) True
	B) False