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True or false? 1.UCC Section 2-205 provides that all firm offers are irrevocable for three...

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Accounting

True or false?

1.UCC Section 2-205 provides that all firm offers are irrevocable for three months

2.Revocation of a firm offer must be communicated in writing to the buyer.

3.In a destination contract the risk of loss passes from the seller to the buyer when the seller tenders the goods to the buyer at the destination point.

4.The term "Free on Board" (FOB) can denote a shipment or destination contract depending on the stated location in the contract.

5.UCC Section 2-509 states that when the goods are neither shipped by a carrier nor held by a bailee, the risk of loss passes to the buyer on his receipt of the goods if the seller is a merchant.

6.According to UCC Section 2-508, a seller who delivers non-conforming goods to a buyer has a reasonable opportunity to cure the non-conformity as long as he notifies the buyer and it is still within the stated contract time of delivery.

7.An injured party may also receive incidental damages for the costs of transportation, storage or commissions.

8.According to UCC Section 2-206, unless otherwise stated in the offer, an acceptance may be made in any manner and by any medium reasonable under the circumstances.

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