When a buyer breaches a contract, the risk of loss remains with the seller.
Answer the following statement true (T) or false (F)
False
You might also like to view...
The funded status of the pension plan at a given date is the difference between the fair value of the plan assets and the projected benefit obligation.
Answer the following statement true (T) or false (F)
The balance sheet perfectly describes both resources and financing (claims on those resources)
Indicate whether the statement is true or false
Which of the following types of costs would be specifically tracked or traced and assigned to a specific job in a job order costing system?
A) Indirect labor B) Direct labor C) Indirect materials D) Supervisor salary
A homeowner orally contracted to buy some custom made parts that the homeowner will use to
build a retaining wall in the homeowner's back yard. The contract price for these materials was $2,000. The buyer refused to take delivery even though they were conforming. The seller is unable to sell these parts to anyone else because they were individually designed for the homeowner. In a lawsuit against the homeowner by the seller of the parts: A) The UCC would not apply because these goods will become real property when installed by the homeowner. B) This contract is not enforceable because the price is $500 or more. C) This contract is fully enforceable even though it is not in writing. D) This contract is not enforceable, assuming that the homeowner is not a merchant in the materials purchased.