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kondor19780726 [428]
4 years ago
14

HearIT, Inc., sells headphones and other listening devices. HearIT buys the goods from manufacturers and then resells them direc

tly to consumers. HearIT does not pay cash to the manufacturers, but instead buys the inventory on credit, giving a security interest to the manufacturer. HearIT sells Judy a pair of headphones that later are repossessed by the manufacturer when HearIT fails to pay the manufacturer. In this situation, HearIT most likely violated:____________
Business
1 answer:
miskamm [114]4 years ago
6 0

Answer:

A warranty of no liens

Explanation:

HearIT has violated the warranty of no liens

Warranty: This can be defined as the assurance usually given by the seller of the existence of a fact on which the buyer can rely. Giving warranty is the duty of the seller, so buyers can sue the sellers in case of any breach in the agreement. instance, we have express warranty, warranty of title, implied warranty.

1) Warranty of Title

a) No Liens: Sellers usually give assurance to the customers that they are selling goods free from debt.

As in the case of HearIT, he has violated this contract by selling goods to Judy that are later repossesed by the manufacturer because the goods were bought on credit and HearIT failed to pay the manufacturer.

b) Good Title:This is the assurance given by the seller that the goods are not stolen goods.

2) No Infringements: It us a warranty given by the sellers to the buyers that their commodities are free from all kinds of infringement like patent right, copyright.

Except where disclaimed, a seller warrants that the goods delivered are free from any copyright, trademark, or patent claims by a third party.

Except where disclaimed, sellers warrant that they have good and valid title to the goods being sold and that they have the power to rightfully transfer title to the buyer. In other words, the goods aren’t stolen.

Except disclaimed, sellers warrant that the goods they are selling are free of any liens -- that is, any encumbrance on the goods or other property to satisfy a debt or protect a claim for payment of a debt (e.g., a security interest on personal property or a mortgage on real property).

2) Express warranty

3) Implied warranty

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Morgan Stanley's wealth management unit offers to invest profits of $750,000 made by an artist on a world tour at 7% compounded
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$171,941

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Cash out = $921,941. 2. Interest earned by the investment = $171,941.

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3 years ago
Why price<br> and quantity increase with an increse in demand
Lana71 [14]

Price increase because the supply is low but the demand is more

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If you stop and take the time to ask yourself if you are being realistic about
mariarad [96]

The correct answer is Overconfidence bias

Explanation:

Overconfidence bias is the result of an excessive and unrealistic estimation of one's skills, knowledge, ideas, etc even to the point the individual considers himself better than others or does not have an objective perception about himself. This type of bias can lead to negative consequences, for example, by overestimating his ability to pass a test a student might choose not to study at all and then fail the test. Moreover, this can be avoided by assessing realistically one's skills, judgments, etc. According to this, the type of bias that can be avoided is overconfidence bias.

6 0
4 years ago
Society often expects a lot from business. Do you think that it is possible to balance profit and other business objectives with
MA_775_DIABLO [31]

Answer:

Yes, it is possible to balance profit and other business objectives with the goals and desire of society.

Explanation:

The primary reasons why businesses are in operation is to make profit. While there are other business objectives like capture a bigger market, provide better customer service, improve efficiency and employee trainings etc. yet its main aim is to make profit.

Ideally, societies would always expect a lot from businesses in terms of social responsibilities because they believe the profit made by businesses emanates from the society; through the purchase of their produce. Where there is no society, there would be no business.

Again, as a corporate and law abiding businesses, it is expected of them to give back to the society within which it operates because that is where the business generates profit to cover its running cost hence should be able to balance between what the society expect from them and what its business objectives are.

7 0
3 years ago
On January 1, 2018, Jolley Corp. paid $250,000 for 25% of the voting common stock of Tige Co. On that date, the book value of Ti
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Answer:

            Dr. Investments in Associates 250,000

            Cr.            Cash                                 500,000

          Dr. Cash                                   10,000

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          Cr.     Investment revenue                    50,000

Explanation:

The equity method is a type of accounting used to incorporate investments. It is used when the investor holds significant influence over the investee but does not exercise full control over it.

An investor is deemed to have significant influence over an investee if it owns between 20% to 50% of the investee’s shares or voting rights.

- Jolley receives dividends of $10,000, which is 25% of $40,000, and records a reduction in their investment account. The reason for this is that they have received money from their investee.

- Jolley records the net income from Tige Co. as an increase to its Investment account.

4 0
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