Which Statement Best Describes the Unique Feature of a Guarantee

question 65

Multiple Choice

Which statement best describes the unique feature of a guarantee?

• A) It must be registered to be enforceable.
• B) It must be in writing to be enforceable.
• C) It survives bankruptcy.
• D) It is prohibited in consumer credit contracts.

Comprehend the use of statistical control charts in monitoring cost variances.

Understand the treatment and implications of material price variances.

Understand the applications of standard cost systems in production and cost control.

Identify the difference between theoretical standards and practical standards and their effect on employee motivation and performance evaluation.

---

Definitions:

Doctrine of Substantial Performance

A legal principle that allows a contracting party to enforce the contract even if there are minor breaches, provided substantial performance of the contract has been achieved.

Perfect Tender Rule

A principle in the Uniform Commercial Code allowing a buyer to demand a full compliance with the contract terms for goods.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, designed to standardize and simplify the laws across the states.

Valid Title

A legal term indicating that a title to a piece of property is legally effective, with the holder having rightful ownership and no claims or outstanding liens against the property.