Seller remedies Study guides, Class notes & Summaries

BUSI 301 Liberty University -BUSI 301 Chapter 21 correctly answeredExpress warranty - correct answer The seller makes a representation of fact about a product Many arise in the context of advertising Implied warranty - correct answer The seller has not made a specific representation about the product, the buyer is still protected by the UCC Implied warranties - correct answer 1. Merchantability: every sale of a product from a merchant to a buyer. Fit for ordinary use 2. Fitness for a...

Well-structured PVL3702 Assignment 2 (ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!). .... Question 1 Answer saved Marked out of 1.00 Flag question Question text Gary points a loaded gun at Pete, and orders him to sign a written contract. Gary explains that the document is for the sale of Pete’s car to him (Gary), at a price of R50 000 which is far below the market value of the car. Pete, fearing for his life, signs the document. Which cause of ...

When a party to a contract fails to perform under the contract, that party is in... - Default Failure to perform is also commonly referred to as... - Breach of contract Default remedies: (2 types) - -Buyer default: In the event of default by the buyer, the seller may have several options -Seller default: In the event of default by the seller, the buyer becomes the injured party. Types of damages: - -Liquidated damages -Monetary damages -Specific performance

DRAFTING THE CONTRACT AND EXCHANGE OF CONTRACTS Learning Outcomes 1. draft and / or critically review a standard-form contract for sale incorporating the Standard Commercial Property Conditions; 2. carry out the steps required for pre-exchange and exchange of contracts on the sale of land. DRAFTING You were issued with the Drafting Workbook at the beginning of your LPC. You should ensure that you are familiar with its contents and that you apply the principles in the Drafting Guide (Chap...

BUSI 301 Chapter 21 Liberty University - Question and answers verified to pass BUSI 301 Chapter 21 Express warranty - correct answer The seller makes a representation of fact about a product Many arise in the context of advertising Implied warranty - correct answer The seller has not made a specific representation about the product, the buyer is still protected by the UCC Implied warranties - correct answer 1. Merchantability: every sale of a product from a merchant to a buyer. Fit...

First Class Commercial Law Notes detailing the following: Legislation, Basic Concepts, the scope of the Sale of Goods Act 1979 (1) and (2) and the scope of the Consumer Rights Act 2015, Delivery and Payment, Meaning and Significance of Property and Risk, Non-Existent Goods at the Date of Contract, The Legislature, The Passing of Property, Nemo Dat Quod Non Habet and the Exceptions to that Principle, Terms implied by the SGA 1979 and the CRA 2015: the right to sell, sale of goods by description, ...

Default of contract and types of damages (pg 137) (Ans- Liquidated Damages - The seller can choose to accept the buyer's earnest money as liquidated damages, releasing all parties from any further obligation under the contract. Liquidated damages are damages that are established in the contract. Monetary Damages - The injured party may "seek such other relief as may be provided by law." This would be an award of monetary damages by the court. Because monetary damages are awarded by the ...

BCOR 1015 Final Questions and Answers Graded A What are Hayeks views on planning and decision making? he believes in decentralized knowledge HAYEK: what is decentralized knowledge? spreading knowledge amongst people is Hayek against centralization? yes HAYEK: how does the price system coordinate resources? price signals are used to make decisions and send information to other groups because prices are lower or higher what are price signals? signals wrapped up in incentives; prices can consta...

Which remedies are available when a seller breaches a contract? a. A suit for specific performance b. Buyer gets deposit returned c. A or b but not both d. Notifying FREC - correct answer -c. A or b but not both What term refers to the right of a mortgagor to stop a foreclosure process by paying the entire balance, interest and so on? a. Equity of estoppel b. Right of redemption c. Right of defeasance d. Equity of disposition - correct answer -b. Right of redemption Which type ...

Which remedies are available when a seller breaches a contract? a. A suit for specific performance b. Buyer gets deposit returned c. A or b but not both d. Notifying FREC - Answer- c. A or b but not both What term refers to the right of a mortgagor to stop a foreclosure process by paying the entire balance, interest and so on? a. Equity of estoppel b. Right of redemption c. Right of defeasance d. Equity of disposition - Answer- b. Right of redemption Which type of mortgage is k...