When Estée Lauder offers a free gift with a $15 purchase of its product from a retail outlet, it is specifically using what type of promotional technique?
A. Bribe.
B. Consumer sales promotion technique.
C. Consumer product promotion technique.
D. Trade sales promotion method.
E. Bait-and-switch method.
Answer: B
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The ACH network electronically transfers funds by crediting the collector's bank account and debiting the payer's bank account for the amount of a payment.
Answer the following statement true (T) or false (F)
Implied warranties can arise as a result of a course of dealing.
Answer the following statement true (T) or false (F)
During the year just ended, the retailer James Corporation purchased $425,000 of inventory. The inventory balance at the beginning of the year was $175,000. If the cost of goods sold for the year was $450,000, then the inventory turnover for the year was:
A. 2.77 B. 2.57 C. 2.62 D. 3.00
Purchase-Money Security Interest. When a customer opens a credit-card account with Sears, Roebuck & Co, the customer fills out an application and sends it to Sears for review; if the application is approved, the customer receives a Sears card. The
application contains a security agreement, a copy of which is also sent with the card. When a customer buys an item using the card, the customer signs a sales receipt that describes the merchandise and contains language granting Sears a purchase-money security interest (PMSI) in the merchandise. Dayna Conry bought a variety of consumer goods from Sears on her card. When she did not make payments on her account, Sears filed a suit against her in an Illinois state court to repossess the goods. Conry filed for bankruptcy and was granted a discharge. Sears then filed a suit against her to obtain possession of the goods through its PMSI, but it could not find Conry's credit-card application to offer into evidence. Is a signed Sears sales receipt sufficient proof of its security interest? In whose favor should the court rule? Explain.