A Seller's Remedies for Breach of a Sales Contract by the Buyer

question 8

Multiple Choice

A seller's remedies for breach of a sales contract by the buyer include all but which of the following?

• A) Refusal to deliver the goods.
• B) Cover.
• C) Resale.
• D) Suit for the contract price.

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Definitions:

Intangible Fixed Assets

Non-physical assets owned by a company that are used in operations, such as intellectual property, goodwill, and licenses.

Statement of Financial Position

A financial statement that presents the assets, liabilities, and shareholders' equity of a company at a specific point in time, commonly referred to as a balance sheet.

Income Statement

A financial statement that provides a summary of a company's revenues, expenses, and profits/losses over a period of time.

Cash Flow to Stockholders

The amount of cash distributed to stockholders of a company, typically in the form of dividends or through the buyback of shares.