A common problem in cases of express warranty is being able to separate statements that create express warranties from statements that do not. Discuss what type of statements create an express warranty and four indications that a statement is likely to create an express warranty.
What will be an ideal response?
Any affirmation of fact, or any promise, can create an express warranty. An affirmation of fact is a statement about the nature or the quality of the goods. A statement indicating the seller's opinion or a statement of sales puffery does not create a warranty. A statement is more likely to be an affirmation of fact if: (a) it is specific and can be proven true or false; (b) it is written; (c) defects are not obvious; and (d) the seller has greater expertise than the buyer.
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A Japanese firm is ready to sell its recent technological innovation to the US government. But it has asked for 80 percent in cash and the rest in mica. The Japanese firm is looking to enter into a(n) ________ with the US government
A) functional discount B) compensation deal C) buyback arrangement D) offset agreement E) barter deal
The higher the magnitude of a company's operating leverage, the smaller the decrease in profit for a given percentage decrease in revenue.
Answer the following statement true (T) or false (F)
Stated value of no-par stock is:
A. An amount assigned to par value stock by the state of incorporation. B. The difference between the par value of stock and the amount below or above par value paid-in by the stockholder. C. The market value of the stock on the date of issuance. D. Another name for redemption value. E. An amount assigned to no-par stock by the corporation's board of directors.
The federal courts and the state courts can have concurrent jurisdiction over the same case
Indicate whether the statement is true or false