Which of the Following Statements Is True About Contracts on the Sale

question 96

Multiple Choice

Which of the following statements is true about contracts on the sale of goods?

• A) The substantial performance doctrine is applied to the international sale of goods.
• B) The buyer must generally give notice to the seller of any defect in the goods and then allow the seller a reasonable time to cure the defect.
• C) If the goods or tender of delivery fail to conform to the contract in any respect, the buyer cannot accept or reject any number of units he chooses to.
• D) According to the United Nations Convention on the International Sale of Goods (CISG), the failure to deliver goods is sufficient to show an exception to the perfect tender rule.

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Definitions:

Job Leaving

This refers to the act of an employee voluntarily terminating their employment with a company.

American Call Option

An option contract that allows the holder to buy an asset at a specific price before or at the expiration of the option.

Expiration Date

In finance, it typically refers to the last day on which options or futures contracts are valid.

Value Decrease

A reduction in the worth or market value of an asset or investment over time.