Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

give me correct answers only! Which of the following statements is not correct concerning sale or returns? O Risk of loss for the goods reamins

give me correct answers only!
image text in transcribed
image text in transcribed
image text in transcribed
Which of the following statements is not correct concerning sale or returns? O Risk of loss for the goods reamins with the seller until the actual return of the goods. The buyer's creditors may treat the goods as belonging to the buyer as long as the goods remain in the buyer's possession. Title to the goods passes to the buyer upon sale of the goods to the buyer. Once the sale is completed, the buyer may have an option to return the goods. Bob the Builder is suing the manufacturer, wholesaler, and retailer for bodily injuries caused by a power saw Bob purchased. Which of the following statements is not correct under the theory of strict liability? . Privity will be a bar to recovery insofar as the wholesaler is concerned if the wholesaler didn't have a reasonable opportunity to inspect. Contributory negligence on Bob's part will not be a bar to recover. Bob may recover even if he can't show any negligence was involved. The manufacturer's knowledge of a production mistake is not a required element for strict tort liability, Bob the Builder purchased a power saw from Handy Manny. Handy put together a sales contract, which stated that he would sell Bob the power saw for $750 and Bob would pay on June 16. Later that week, Bob was using the power saw in a reasonable manner. The power saw exploded in his hands, causing Bob to suffer serious burns. Bob sued Handy for his injuries, however, Handy defended on the grounds that he could not be liable because it was a used good and that he had disclaimed any warranties. Bob will not prevail on his lawsuit because Handy was a seller of used goods does not make any warranties. True False

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

9th Edition

1118334329, 978-1118334324

More Books

Students also viewed these Accounting questions