Sam Was Unemployed for the First Two Months of 2018

question 109

True/False

Sam was unemployed for the first two months of 2018. During that time, he received $4,000 of state unemployment benefits. He worked for the next six months and earned $14,000. In September, he was injured on the job and collected $5,000 of workers' compensation benefits. Sam's Federal gross income from the above is $18,000 ($4,000+ $14,000).

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Definitions:

Webster v. Blue Ship Tea Room, Inc.

A legal case from Massachusetts in 1964 that centered around what constituted a "fish chowder," illustrating how courts interpret contractual obligations and representations in business.

Implied Warranty of Merchantability

An implicit guarantee that a product will meet a minimum level of quality and functionality as expected for goods of its kind.

Implied Warranty of Fitness

An assurance, not explicitly stated, that a product will meet a buyer's needs for a particular purpose.

Express Warranty

An explicit promise made by a seller regarding the quality, condition, or performance of the goods being sold.