Match the Following: A.A Sequence of Previous Conduct Between Parties Establishing a Common

question 4

Essay

Match the following:
a.A sequence of previous conduct between parties establishing a common basis for interpreting their agreement.b.A practice or method of dealing regularly observed and followed in a place,vocation,or trade.c.The transfer of a major part of one's inventory not in the ordinary course of business.d.A contract in which the risk of loss remains with the seller until the buyer accepts the goods.e.Requires the seller to unload the goods from the carrier at the named destination.f.Tangible,movable personal property.g.Unfairness of the bargaining process.h.A signed writing by a merchant that gives assurance an offer for the purchase or sale of goods will be kept open for a maximum of three months.i.A contract in which the risk of loss is on the buyer until she returns the goods.j.Delivery term for a shipment contract;free on board.k.The obligation of the seller to convey the right to ownership without a lien.l.Relationship pertaining to remote sellers in the chain of distribution.m.A term used to indicate that the price includes the cost of transportation and delivery of the goods alongside the carrier.n.A contractual relationship between the plaintiff and the defendant that was necessary at common law to maintain a breach of warranty lawsuit.o.An affirmation of fact or promise about the goods or a description,including a sample of the goods,which becomes part of the basis of the bargain.p.Provides the goods are reasonably fit for the ordinary purposes for which they are used.q.Limitation on the time period for which a manufacturer is liable for injury caused by its defective product.r.A contract in which the seller agrees to pay costs of freight,insurance,and transportation to the destination.s.A person who is a dealer in the goods,or who by his occupation holds himself out as having knowledge or skill peculiar to the goods or practices involved,or who employs an agent or broker whom he holds out as having such knowledge or skill.t.Oppressuve or grossly unfair contractual provisions.
-vertical privity

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Definitions:

Expected Utility Function

A mathematical representation in economic theory that models preferences over risky choices or uncertain outcomes.

Utility Function

An economic model that describes how consumers rank different bundles of goods according to the levels of happiness or satisfaction they provide.

Risk Neutral

A term describing an individual or entity that does not prefer or avoid risk, implying indifference to the amount of risk associated with any investment.

Risk Averse

A characteristic of individuals who prefer to avoid risk and would rather choose an option with a lower but more certain return than an option with a higher but uncertain return.