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djyliett [7]
3 years ago
11

Your company manufactures and sells a variety of personal care products such as hair dryers and curling irons. Every hair dryer

is properly labeled and contains safety precautions against misuse. Patrick purchases an SF9000 hair dryer from your company website. After a month of use where the hair dryer functions properly, Patrick accidentally drops it in water causing him an electric shock. Patrick sues your company for breach of the implied warranty of merchantability. Discuss whether the implied warranty of merchantability exists for this product and whether it has been violated in this situation.
Business
1 answer:
sleet_krkn [62]3 years ago
5 0

Answer:

Product Implied Warranty

According to the Uniform Commercial Code, a product warranty guarantees that a product will work when used for its intended purposes.  There are two key types of implied warranties: merchantability and fitness.  The implied warranty of merchantability states that a product will meet reasonable expectations of the buyer.  The implied warranty of fitness means that the product will meet the buyer's intended use.

Based on the above, we can conclude that the implied warranty of merchantability actually exists for the hair dryer.  However, Patrick clearly violated it in this situation through the accident of dropping it in water.

Having thus violated the warranty, he cannot reasonably recover any damages from the company.

Explanation:

a) Facts of the case:

1. Every hair dryer is properly labeled and contains safety precautions against misuse.

2. The SF9000 hair dryer that Patrick purchased functioned properly for a month.

3. Patrick accidentally drops the hair dryer in water, causing him an electric shock.

4. Patrick sues for breach of the implied warranty of merchantability.

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Is depreciation defined as spreading costs over time?
Shtirlitz [24]

Answer:

Yes

Explanation:

<em>Depreciation can summarily be defined as spreading the cost of a tangible item over the course of the through which the item would be useful.</em>

When an item such as office furniture, electronics, etc., is purchased, the lifespan of the item is estimated and the cost is spread over the period of its lifespan. At the end of each financial period, the cost of the item for the period is removed from the value of the item and the new value is input into the balance sheet.

Correct answer: yes.

3 0
3 years ago
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Labor is a resource that is necessary to produce many goods. "if the price of labor falls," says the economist, "the prices of g
Anna007 [38]

If the price of labor falls, the supply of goods rises and the prices of those goods fall.

If labor costs go down, it will cost less for a business to make products so they will make more and supply will go up. When supply goes up, prices tend to fall.

7 0
4 years ago
Lollipop, Inc., is expected to grow at a constant rate of 9 percent. The company will pay a dividend of $2.75 next year and the
OverLord2011 [107]

Answer:

a . No, it is not a good buy because the stock is worth $30.56

Explanation:

Calculation for how much is the stock worth and is it a good buy

Using this formula

Stock worth=D1/(Required return-Growth rate)

Let plug in the formula

Stock worth=2.75/(0.18-0.09)

Stock worth=2.75/0.09

Stock worth=$30.55

Stock worth=$30.56(Approximately)

Based on the above calculation we can see that the current price of the stock of the amount of $37.35 is higher than the current worth amount of the stock of the amount of $30.56 which indicates that " No, it is not a good buy because the stock is worth $30.56"

3 0
3 years ago
To calculate dividend yield, the annual dividend amount per share is divided by the ________ per share.
I am Lyosha [343]

The dollar amount of dividends paid per share in a given year is divided by the dollar amount of one share of stock to arrive at the dividend yield, which is displayed as a percentage. Dividend yield equals the annual dividend per share divided by the stock's price per share.

<h3>What is Standard Deviation?</h3>

The standard deviation in statistics is a measure of the amount of variation or dispersion in a set of values. A low standard deviation implies that the values of the set tend to be close to the mean (also known as the expected value), whereas a high standard deviation shows that the values are spread out over a larger range.

The lower case Greek letter (sigma) for the population standard deviation or the Latin symbol s for the sample standard deviation is most typically used in mathematical texts and equations to signify standard deviation.

To learn more about standard deviation visit:

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5 0
2 years ago
A CPA issued an unqualified opinion on the financial statements of a company that sold common stock in a public offering subject
JulijaS [17]

Answer:

The misstatement is immaterial in the overall context of the financial statements.

Explanation:

An immaterial misstatement is an omission that has not been treated correctly but is not significant enough to negatively influence the use of the financial statements or the decisions made by those using them. This immaterial misstatements do not represent fraud or intentional wrongdoing.

7 0
3 years ago
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