Seller wishes to sell goods but the goods are subject to an

Assignment Help Accounting Basics

Reference no: EM13569520

1.Which warranty cannot be disclaimed?

a. Merchantability

b. Fitness for particular purpose

c. Title

d. None of the above. These warranties can all be disclaimed..

2.Which warranty is express?

a. Merchantability

b. Fitness for particular purpose.

c. Conformity of goods to a sample or model.

d. All are express warranties.

3.Seller wishes to sell goods, but the goods are subject to an income tax lien properly created by the taxing authority. What must the seller do to avoid breaching the warranty of title when it sells the goods to a buyer?

a. Inform the buyer of the tax lien before contracting.

b. Get the taxing authority to release the lien on the goods.

c. Offer to indemnify the buyer if the goods are seized by the taxing authority.

d. None of the above. Seller is legally not entitled to sell these goods.

4.Buyer goes to a garage sale and purchases a used bicycle. The seller had conducted the garage sale to rid himself of personal items no longer used by his family. If the buyer saw the bicycle and bought it without any discussion with the seller, what warranties arose in the sale?

a. title

b. merchantability

c. fitness for particular purpose

d. all of the above

5.Regarding the warranty of fitness for particular purpose:

a. the seller must be a merchant

b. the buyer must be a merchant

c. none of the above

Reference no: EM13569520

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