The UCC permits a buyer under a contract of sale to agree as part of the contract that he will not assert against an assignee any claim or defense that the buyer may have against the seller under certain circumstances. Identify these circumstances, and discuss the reason the UCC permits such a provision and how the FTC deals with such waiver of defense provisions
The UCC permits the buyer to agree not to assert claims or defenses if the assignee takes the assignment for value, in good faith, and without notice of conflicting claims or of certain defenses. This type of provision is allowed because it renders the seller's rights more marketable. However, the FTC does not permit such waiver of defense provisions in consumer credit transactions. Most states also have statutes protecting buyers in consumer transactions by prohibiting waiver of defenses.
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Net sales minus cost of goods sold equals ____________________
Fill in the blank(s) with correct word
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A. restrict B. tighten C. destabilize D. ease
What is the GREATEST benefit of following our purpose or vocation?
A. personal satisfaction B. more effective service to others C. higher productivity D. channels energies
At the time that Kirby Company issued a 2-for-1 stock split, the company had 5,000 shares of $6 par value common stock outstanding. Stockholders' equity also contained $15,000 of additional paid-in capital and $22,000 of retained earnings. Immediately after the stock split the:
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