A Contract for the Purchase of a Bicycle States That

question 74

Multiple Choice

A contract for the purchase of a bicycle states that the sale is made without any warranty and includes no service.In a separate paragraph of the contract it states that the seller will make free adjustments to the bicycle one time between 30 and 60 days after the purchase.This contract:

• A) will be considered void due to the ambiguity
• B) will be interpreted to not include the service
• C) will be interpreted to include the one adjustment,but no others
• D) will be interpreted to include the stated adjustment,as well as any others reasonably needed
• E) will be interpreted as if the two contradictory terms were not part of the agreement

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Definitions:

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, providing an overview of a financial situation in a standardized format.

Current Asset

Current assets are short-term financial resources that are expected to be converted into cash, sold or consumed within one year or within the business's operating cycle, whichever is longer.

Current Liability

A company's debts or obligations that are due to be paid to creditors within one year.

Loan Requests

are formal applications made by individuals or companies to borrow money from financial institutions.