Answer:
Maxwell will win this case, as per division 2 of UCC, seller bears the cost for loss under implied warranty of fitness, if the goods do not meet the ordinary purpose or is inefficient.
Explanation:
Given in this case, Maxwell is applying "Universal Commercial Code (UCC)" division 2 provision, which defines all the goods and services.
A movable property, which can be sold from seller to the buyer at certain prices are called goods. Therefore, in this case, "Raw Cream" comes in the definition of goods, as it is directly sold to Maxwell by the grocery shop.
Maxwell will win this case, as per division 2 of UCC, seller bears the cost for loss under implied warranty of fitness, if the goods do not meet the ordinary purpose or is inefficient.
Answer:
it would have a positive income elasticity and it is a normal good
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.
Normal goods are goods that are goods whose demand increases when income increases and falls when income falls
Inferior goods are goods whose demand falls when income rises and increases when income falls.
Answer:
Book keeping is the activity of keeping records of the financial affairs in a business.
hope it helps!
