GR8 Products, Inc, warrants its goods to be free of defects. Heck issues an instrument to obtain goods from GR8 that prove defective. With respect to payment on the instrument, Heck
A) is liable only to a subsequent holder of the instrument
B) has a universal defense against it.
C) has a personal defense against it.
D) cannot avoid it.
C
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Predatory pricing, which refers to the concept of selling below cost with the intention of destroying competition, is lawful under certain conditions
Indicate whether the statement is true or false
Which of the following ratios is not a measure of profitability?
a. rate of return on assets b. rate of return on common stockholders' equity c. earnings per share of common stock d. rate of return on preferred stockholders' equity e. all of the above
On June 1, Supertread Tire Company entered into a contract to provide 100 tires per month to ZYX Cycle Company at $30 per tire for the next two years. The October shipment consisted of 100 badly defective tires. ZYX Cycle Company:
a. can treat the whole contract as breached. b. can reject the October shipment if it cannot be cured in a timely manner by Supertread. c. cannot reject the October shipment since it is part of the installment series. d. must pay for the defective tires, but Supertread must provide 200 tires in November.
A business trust resembles a corporation.
Answer the following statement true (T) or false (F)