Christian Agrees to Sell Five Hundred Footballs to Anderson

question 40

Multiple Choice

Christian agrees to sell five hundred footballs to Anderson.However, Anderson subsequently refuses to accept the footballs.Which of the following is not one of the statutory remedies available to Christian?

• A)An order for specific performance compelling Anderson to accept delivery.
• B)Compensation for any expenses incurred as a result of Anderson's refusal to accept delivery.
• C)The right to resell the footballs to another buyer.
• D)The right to retain possession of the footballs until Christian is paid.

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Definitions:

Savings Deposit

A bank deposit that typically earns interest and is intended for holding money that is not expected to be spent immediately.

M1

M1 is a category of the money supply that includes all physical money such as coins and currency, as well as demand deposits and other liquid assets held by the central bank.

Reserve Ratio

The portion of depositors' balances that banks must have on hand as cash.

Outstanding Loans

The total amount of borrowed funds that are still owed by the borrower to the lender, including both principal and interest.