the principle of caveat emptor :
a- still applies in contracts in which no express warranties are made
b-is the same as strict tort liability
c- is no longer applicable in contracts
d- favors the buyer
c- is no longer applicable in contracts
This is no longer applicable in contracts as there is an implied warranty provided even if the express warranty is not present.
the principle of caveat emptor : a- still applies in contracts in which no express warranties...
Select one or more The rule of repudiation: a. applies to all contracts with a minor that have not been fully performed b. means that a minor must abide by a contract for a necessary item c. applies only to the contracts which are unfair to the minor d. allows minor to cancel all the contracts where underage
BUSINESS LAW WUESTION 38. Which of the following represent defenses to products liability A preemption B assumption of risk c products Dal of the above 39. An agent's authority can be? A actual express or implied Bapparent C neither Anor B D. Both A and B 40. According to Joel responsibility, but Morrison, a from the master's business will result in will not hold the master ble B A diversiondetur rolic detour C. detourfrolic D. diversion frolic 41. The Truth...
Which of the following statements is true of the U.N. Convention on Contracts for the International Sale of Goods (CISG)? A. The CISG specifically provides that contracts are not subject to formal writing requirements. B. The CISG requires offers to have complete terms in order to be valid and enforceable. C. The CISG provisions apply to transactions in which one party is a nonmerchant. D. The CISG does not require a buyer to allow a seller the opportunity to cure.
Choose the correct answer 1) When a change in accounting principle is reported, what is likely sacrificed? A.Relevance. B.Consistency. C.Conservatism. D.Representational faithfulness. 2)Which of the following changes should be accounted for using the retrospective approach? A. A change in the estimated life of a depreciable asset. B. A change from straight-line to declining balance depreciation. C. A change in policy increasing product warranty period from 1 year to 2 years for new products. D. A change from the completed-contract method...
Which of the following statements is most accurate?Briefly explain A. Futures contracts could be private transactions. B. Forward contracts marked to market daily are futures contracts. C. A Forward contract could have the same liquidity as a Futures contracts. D. Futures contracts require that both parties to the transaction have a high degree of creditworthiness.
In principle, which of the Incoterms affords the buyer maximum control over the cost of transporting the goods? A. Ex-works (EXW) B. Delivered duty paid (DDP) C. Free on board (FOB) D. Free alongside ship (FAS) E. Free carrier (FCA)
12. Dubious in Hammingbell sold a number of auto parts, FOB Hammingbell, in boxes to Dealer in Vernon Mtn.: the goods were shipped via Trucking Co. When the load arrived at Dealer's place Dealer insisted the driver unload the boxes inside the store. The driver refused; Sharp words were exchanged, and the goods were not unloaded. Subsequently they were lost. Dubious demanded payment from Dealer. Which is correct? a. Dubious wins because Dealer should have accepted the goods and sued...
Which of the following statements is true regarding contracts in ASC Topic 606 guidance for revenue recognition? a. Contracts need to be legally enforceable to be considered under ASC Topic 606. b. Contracts need to be in written form to be considered under ASC Topic 606. c. No consideration can be received before a contract exists. d. No price concessions can be made to an existing contract. PLEASE EXPLAIN!
#37) In the context of product liability, the principle of the least cost avoider a) Explains product warranties. b) Implies that the producer should bear all the costs associated with accidents related to its product's use. c) Implies that the producer should bear none of the costs associated with accidents related to its product's use d) Implies that the producer should bear the costs associated with accidents related to its...
We were unable to transcribe this imageSure Good Appliance Corporation contracts with Trucking Company to take a selection of appliances to United Railroad, Inc., for United to transport the goods to a VeriSafe Company warehouse. Trucking, United, and VeriSafe each acknowledge possession of the goods by a document of title. These parties are O bailees. O buyers. O lessees. O sellers. D Question 7 1 pts Mountainside Coffee Company and Nature's Cuisine, Inc., enter into a contract for a sale...