When a Buyer Breaches a Sales Contract by Refusing to Accept

question 37

Multiple Choice

When a buyer breaches a sales contract by refusing to accept conforming goods, a common remedy of the seller is to

• A) exercise the right of replevin.
• B) demand specific performance.
• C) sue for nondelivery.
• D) resell the goods.

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Definitions:

Treasury Notes

Short- to medium-term debt obligations issued by a national government with fixed interest rates and maturities ranging from one to ten years.

Federal Reserve System

The central banking system of the United States, responsible for monetary policy, regulation of member banks, and ensuring stability of the financial system.

District Banks

Banks that are part of a larger Federal Reserve System in the United States, responsible for overseeing the monetary policy and banking regulations in their specific district.

Federal Reserve District Banks

The 12 regional banks in the Federal Reserve System which oversee and regulate banking institutions within specific geographic areas of the US.