In the Event That a Buyer Receives a Shipment of Seriously

question 38

Multiple Choice

In the event that a buyer receives a shipment of seriously defective goods,under the CISG:

• A) the buyer may accept the goods and reduce the amount paid to the seller accordingly.
• B) the buyer must notify the seller of the defects within a reasonable time.
• C) the seller may cure the defect up until the time for performance has expired.
• D) the seller may request additional time to perform even though he will be late in so doing.
• E) all of these are correct.

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Definitions:

Manager-Managed

A management structure in which a company is overseen by professional managers rather than its owners or members.

Member-Managed

Refers to a type of management structure in an LLC where all members participate in the decision-making processes.

Limited Liability Company

An enterprise configuration that amalgamates the individual taxation approach of sole proprietorships or partnerships with the capped liability advantages of a corporation.

Corporation

A legal entity that is separate and distinct from its owners, offering them limited liability and the ability to raise funds by selling shares.