BUS 201 EXAM REVIEW EXAM 3 QUESTIONS WITH
ACCURATE ANSWERS
a buyer who rejects nonconforming goods can resell the goods absent specific
instructions from the seller correct answer true
a corporation must be dissolved (terminated) if a stockholder dies correct answer
false
a potential key consideration in starting up a small business could be whether the
business form chosen will limit personal liability for business obligations correct
answer true
an insurable interest is the right to insure the goods against any risk exposure
such as damage or destruction correct answer true
Article 2 of UCC pertains to every business transaction correct answer false
Banshee sells 1000 life-size mannequins to store. included in the contract were
numerous statements about quality to have. once they were delivered, they did
not have all of the qualities specified correct answer strict liability
Barbie/Ken/Flay correct answer Anticipatory breach, only dealing with goods
consumer product safety commission lacks authority to issue product recalls
correct answer false
ACCURATE ANSWERS
a buyer who rejects nonconforming goods can resell the goods absent specific
instructions from the seller correct answer true
a corporation must be dissolved (terminated) if a stockholder dies correct answer
false
a potential key consideration in starting up a small business could be whether the
business form chosen will limit personal liability for business obligations correct
answer true
an insurable interest is the right to insure the goods against any risk exposure
such as damage or destruction correct answer true
Article 2 of UCC pertains to every business transaction correct answer false
Banshee sells 1000 life-size mannequins to store. included in the contract were
numerous statements about quality to have. once they were delivered, they did
not have all of the qualities specified correct answer strict liability
Barbie/Ken/Flay correct answer Anticipatory breach, only dealing with goods
consumer product safety commission lacks authority to issue product recalls
correct answer false
