Implied warranty of fitness for particular purpose not apply

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Reference no: EM132212429

1. Which of the following is not a duty that a merchant buyer owes to a seller who sends a non-conforming tender?

A) The buyer must accept whatever part of the tender is conforming

B) At the seller's request, the buyer must detail in writing the goods' defects or non-conformities.

C) The buyer must follow the seller's reasonable instructions for the disposition of the goods.

D) The buyer must try to sell the goods for the seller's benefit if the goods are perishable or likely to decline in value rapidly.

2. Under which of the following conditions will an implied warranty of fitness for a particular purpose not apply?

A) The seller is a non-merchant

B) The buyer's knowledge about the goods is equal to or greater than the seller's

C) The goods in question are fungible

D) The implied warranty of merchantability also applies to the sale

3. Joe Smith sold his car to a neighbor. The neighbor paid for the car with a check made payable "to the order of Joe Smith." Since he owed money to his aunt, Joe decided to simply negotiate the check to her. On the back of the check he wrote: "Pay to Ethel Jones. Joe Smith". This is an example of a __________________endorsement.

A) Special

B) Restrictive

C) Conditional

D) Blank

4. Which of the following can have considerable influence over management and the ultimate governing of the corporation?

a. shareholders

b. internal stakeholders

c. proxy voters

d. activist shareholders

e. institutional investors

Reference no: EM132212429

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