Business and Personal Law

Chapter 7: Consumer Law and Contracts

Self Check Answers

Section 7.1

1. the sale and lease of goods
2. Must be in writing for the sale of goods for $500 or more. Exceptions: oral contracts between two merchants when a confirmation is sent in writing and no objective is made; oral contracts for specially manufactured goods; admissions in court; executed oral contracts.
3. When the seller does what is required under contract.

Section 7.2

1. gives buyer three business days to cancel contracts made away from seller's regular place of business
2. by a statement of fact, by a description of the goods, and by presenting a sample
3. guarantee that title is being given is good and transfer is lawful