Randy, a minor, buys a new four-wheel drive truck from the Jones Dealership. Randy sells this truck to his cousin, Steve, who is an adult. Steve conveys this vehicle to Arthur Smith. Arthur does not personally know Steve or Randy. Randy may:
a. recover the vehicle from Mr. Smith.
b. not recover the vehicle from Mr. Smith.
c. hold Steve liable in tort.
d. recover the reasonable value of the vehicle but not the vehicle itself.
b
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The expected value of a random variable is
A. the value of the random variable that should be observed on the next repeat of the experiment. B. the value of the random variable that occurs most frequently. C. the square root of the variance. D. None of these alternatives is correct.
Which of the following is not true about auctions?
a. The UCC provides that if an auction sale is advertised or announced in explicit terms to be with reserve, the auctioneer may not withdraw the article put up for sale unless no bid is made within a reasonable time. b. Unless an auction is advertised as being without reserve, the sale is with reserve. c. Whether an auction is with or without reserve, a bidder may retract his bid at any time prior to acceptance by the auctioneer. d. If the auctioneer knowingly receives a bid on behalf of the seller and notice has not been given that the seller reserves the right to bid at the sale, the bidder to whom the goods are sold can avoid the sale.
A promise to do what one already has a legal duty to do constitutes legally sufficientconsideration
Indicate whether the statement is true or false
During the review of a registration statement, the SEC ________ of the securities offered.
A. establishes the opening sale price B. does not pass judgment on the merits C. reports on the credit worthiness D. estimates the bankruptcy value