Liquidity refers to the spending of cash to generate sales
Indicate whether the statement is true or false
F
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The excess of revenue over the expenses incurred in earning the revenue is called capital
Indicate whether the statement is true or false
Contracts that have been fully performed by one side but not by the other are classified as ________ contracts
A) executory B) executed C) void D) voidable
Persons who transfer goods without proper title breach the warranty of quiet possession
Indicate whether the statement is true or false
Scuba manufacturer designs and sells the best scuba gear on the market. All industry and governmental standards are met, and there is no better technologically feasible design than that used by the manufacturer. There had been no previous problems with the gear, but on one unfortunate day, the breathing apparatus on a unit malfunctioned resulting in a diver needing medical care. Assuming
recognition in the jurisdiction involved, which of the following is the best defense to a lawsuit alleging a design defect brought by the diver? a. Comparative fault b. Assumption of the risk c. State-of-the-art d. Ultrahazardous activity