CT
Charizma Taylor
Answers (6)
CT
Answered
If a buyer rightfully rejects nonconforming goods, he or she can resell them and retain the proceeds, without crediting the amount to the seller.
On Jul 28, 2024
False
CT
Answered
Entries to customers' accounts for sales are posted in the:
A) accounts receivable subsidiary ledger.
B) accounts payable subsidiary ledger.
C) adjustment subsidiary ledger.
D) sales subsidiary ledger.
A) accounts receivable subsidiary ledger.
B) accounts payable subsidiary ledger.
C) adjustment subsidiary ledger.
D) sales subsidiary ledger.
On Jul 25, 2024
A
CT
Answered
What is the term for a condition that is not stated in the contract but is created by the nature of the transaction between parties?
A) Express condition
B) Implied-in-fact condition
C) Corporate condition
D) Bilateral condition
A) Express condition
B) Implied-in-fact condition
C) Corporate condition
D) Bilateral condition
On Jun 28, 2024
B
CT
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Which of the following is NOT a technique that can be used to create contrast?
A) colour
B) position
C) novelty
D) cost
A) colour
B) position
C) novelty
D) cost
On Jun 25, 2024
D
CT
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Russell contracts to install for Nina her choice of living room carpeting. Classify as an express, implied-in-fact, or implied-in law condition Nina's notification to Russell of her choice of type and color of carpeting. Compare and contrast this condition with the other two types of contractual conditions.
On May 29, 2024
Nina's notification of choice of type and color of carpeting is an implied-in-fact condition, an operative event that must occur before Russell is subject to the duty of installing the carpet. Implied-in-fact conditions are similar to express conditions in that they must fully and literally occur and in that they are understood by the parties to be part of the agreement. They differ in that they are not stated in express language, but are inferred from the contract terms, the nature of the transaction, or parties' conduct. Implied-in-law or constructive conditions are imposed by law to accomplish a fair result. They differ from express or implied-in-fact conditions in that they are not contained in the language of the contract or necessarily inferred from the contract, and they need only be substantially performed.
CT
Answered
"Player drafts" of professional athletes:
A) increase the competitiveness of the labor market for professional athletes.
B) reduce the profitability of professional sports franchises.
C) promote monopsony in the hire of professional athletes.
D) increase salaries of professional athletes.
A) increase the competitiveness of the labor market for professional athletes.
B) reduce the profitability of professional sports franchises.
C) promote monopsony in the hire of professional athletes.
D) increase salaries of professional athletes.
On May 26, 2024
C