If the parties to a sales contract do not agree to the time, place, and manner of delivery of the goods, the place for delivery is the seller’s place of business. ______
Acceptance of nonconforming goods is a breach of contract by the buyer. ______
In a sale on approval, there is no sale unless and until the buyer accepts the goods. _____
The measure of damages for nondelivery is the difference between the contract price and
the market price at the time the breach is realized. ______
Pre-established damages mentioned in a contract are known as liquidated damages. ____
A seller’s or lessor’s statement of opinion or commendation of the goods creates an
express warranty. ______
A check is a type of promissory note. ______
Security posted by promissory note maker to the lender for repayment of money is known as collateral. ______
A person cannot be held contractually liable on a negotiable instrument unless his or her signature appears on it. ______
Fraud in the inception is a type of personal defense. ______