Which of the Following Statements Is Correct with Respect to the Sale

question 36

Multiple Choice

Which of the following statements is correct with respect to the Sale of Goods Act?

• A) The parties are restricted to contract out of any of the terms of the Sale of Goods Act.
• B) Some of the terms of the Sale of Goods Act are implied in the contract of sale.
• C) The terms included in the Sale of Goods Act override the terms agreed upon by the parties to such a sale of goods.
• D) The Sale of Goods Act does apply to the sale of land.
• E) The Sale of Goods Act does apply to the assignment of a contractual claim.

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Definitions:

NOW Account

A checking account that earns interest on balances, where NOW stands for "Negotiable Order of Withdrawal."

Debit Account

An account that records expenses or assets, increasing with a debit entry and decreasing with a credit entry.

Traveler's Checks

Preprinted, fixed-amount checks designed to allow the person signing them to pay for goods or services in a foreign currency securely.

FDIC

The Federal Deposit Insurance Corporation is a United States government agency that protects depositors in the event of a bank failure, insuring deposits up to a specified limit.