1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
GREYUIT [131]
3 years ago
10

Ahmed, a lawyer, sold his car to Carlos. Has an implied warranty of merchantability been created by this transaction? No, becaus

e Ahmed is not a merchant. Yes, because if the car is defective Carlos will have a right to return in to Ahmed. No, Ahmed has not implied so either orally or in written. Yes, because a car is "goods" and the Uniform Commercial Code applies to contracts for the sale of goods.
Business
1 answer:
GuDViN [60]3 years ago
5 0

Answer:

A.  No, because Ahmed is not a merchant.

Explanation:

Implied warranty of merchantability is a law in contract which states that when there is a transaction between a seller (the merchant), and a buyer, there is an unwritten guarantee from the seller, that the product meets up to the ordinary standards of care. This means that the goods must be fit to do what the merchant says it will do.  Therefore, if the seller finds it defective, he could return it to the seller. and if the seller refuses to make a change, a legal case could be established. The merchant by law is a wholesaler or retailer, who sells goods in which he has expertise or special skills.

Ahmed in the question could be argued in court to not be a merchant of cars and as such, has no expertise with which he can make a guarantee for the car being sold to Carlos.

You might be interested in
Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the followin
ANEK [815]

Answer:

Budgeted Income Statement for the year

Sales (820 units × $ 2,130)                            $1,746,600

Less Cost of Sales (820 units × $ 1,500)    ($1,230,000)

Gross Profit                                                       $516,000

Less Operating Expenses :

Selling and administrative expense

Variable (820 units ×  $ 75)                              ($61,500)

Fixed                                                               ($400,000)

Operating Profit                                                 $54,500

Less Non - Operating Expenses :

Interest                                                            ( $29,000)

Net Income / (Loss)                                           $25,500

Explanation:

Income Statement shows the company`s performance from its operations.

Income / (Loss) = Sales - Expenses.

4 0
3 years ago
The project is expected to generate the following net cash flows:
iVinArrow [24]

Answer:

Correct option is A 5.01%

Explanation:

Let irr be x%

At irr,present value of inflows=present value of outflows.

1,500,000=350,000/1.0x+475,000/1.0x^2+400,000/1.0x^3+475000/1.0x^4

Hence x=irr=5.01%(Approx).

8 0
2 years ago
In the best-selling book, Good to Great, the author examined the characteristics of eleven successful companies by studying the
Anestetic [448]
Answer: Case Study. Hope I helped <3
3 0
3 years ago
Dana has standard consumer preferences over two goods: hours spent watching football (W) and hours spent playing football (P). H
Aleks [24]

Answer:

The correct option is Dana might be indifferent between C, A, and B.

Explanation:

Note: See the attached photo for the indifference curve showing points A, B and C.

The answer can be explained using an indifference curve.

An indifference curve is a graph that depicts the combination of two commodities that provide equal satisfaction or utility to the consumer. A consumer is indifferent between the two commodities at each point on an indifference curve because all points on the curve provide him with the same level of satisfaction or utility.

In the attached photo, bundles A, B and C are plotted as points on the same indifference curve (IC). Since points A, B and C are on the same IC, it therefore implies that Dana might be indifferent between C, A, and B.

Therefore, the correct option is Dana might be indifferent between C, A, and B.

4 0
3 years ago
McGregor Company allows customers to pay with credit cards. The credit card company charges McGregor 3% of the sale. When a cust
Liono4ka [1.6K]

Answer:

C. Debit Service Fee Expense for $6

Explanation:

McGregor only uses the services of the Credit Card company for their own activities, therefore, aside from the income of the service provided of $200, the credit card company will charge McGregor for the use of credit card services by the customer.

As such, since it is the decision of the customer to pay with a credit card, then the customer must bear the service fee expense of 3% of the cost of the service which is $6. Hence, Option C is correct. It means aside the $200 for the service, there is a need to debit service fee expense for $6

Option D is wrong because only $200 is service revenue, it has to be clearly stated that the 3% of $6 is different from the service revenue and should be debited as service fee.

If the customer is reluctant to make the payment, then there is an allowance to pay cash instead of using the credit card service.

5 0
2 years ago
Other questions:
  • Shankar Company uses a periodic system to record inventory transactions. The company purchases inventory on account on February
    6·1 answer
  • In many instances the most appropriate way for a firm to cope with an event that leads to negative public relations is to:______
    5·1 answer
  • What new deal programs provided relief for unemployment?
    14·1 answer
  • Erin Reinhardt and her friend Carol Newman have just arrived in the country Boloni for a summer holiday. While renting a car on
    5·1 answer
  • In order to ensure success, what are the five rules you need to follow before going into business for yourself?
    15·2 answers
  • Classify the given goods according to whether or not they would be included in calculating the GDP for the United States. All go
    14·1 answer
  • Companies use technology cycles and innovation streams for which of the following purposes? A. To create a competitive advantage
    5·1 answer
  • You work for a Europe-based company that is interested in doing business internationally. As a top manager of the firm, you want
    13·1 answer
  • 3 things to consider when picking a bank
    14·2 answers
  • to compute trend percentages the analyst should: multiple choice select a base period, divide analysis period amount by the base
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!