Which of the Following Remedies Is Available to the Seller

question 2

Multiple Choice

Which of the following remedies is available to the seller or manufacturer of goods upon a breach by buyer by repudiation of the contract?

• A) The manufacturer may resell any unfinished goods.
• B) The manufacturer may identify goods to the contract.
• C) The seller may sell the unfinished goods for scrap.
• D) The seller may do all of these.

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Definitions:

Defective Goods

Items that fail to meet quality standards due to flaws or faults, rendering them unsaleable or requiring correction.

Credit Terms

Conditions under which credit is extended by a lender to a borrower, including interest rate, repayment schedule, and other terms of a credit agreement.

Accounts Payable

Amounts a company owes to its creditors for goods or services that have been delivered or used but not yet paid for.

FOB Shipping Point

This term represents a shipping agreement where the buyer takes responsibility for the goods once they are shipped, implying ownership transfer at the seller's location.