Riverside Mill and Standard Contractors Enter into a Contract for a Sale

question 21

Multiple Choice

Riverside Mill and Standard Contractors enter into a contract for a sale of lumber. The mill knows the purpose for which the buyer will use the goods. Under the UCC, an implied warranty of fitness of a particular purpose arises if

• A) the buyer is relying on the seller to select suitable goods.
• B) the buyer asks for it.
• C) the seller is a merchant who deals in goods of the kind sold.
• D) the seller knows that the product is fit for any purpose.

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Definitions:

Production

the process of creating goods or services by combining various resources like labor, materials, and technology, intended for sale or use.

Critical Path

is the sequence of stages determining the minimum time needed to complete a project, highlighting the most important tasks that directly affect the project completion date.

PERT Diagram

A project management tool used to schedule, organize, and coordinate tasks within a project, visualizing the project’s timeline and critical path.

Gantt Charts

A type of bar chart that illustrates a project schedule, showing the start and finish dates of the various elements of a project.