Bryson Hardware Accepted Delivery of the 50 Door Handles It

question 35

Multiple Choice

Bryson Hardware accepted delivery of the 50 door handles it ordered.If it later finds the handles do not conform to the contract specifications and it wants to revoke its acceptance,it may return the goods only if

• A)it shows the original acceptance of the goods never occured.
• B)it shows that the defects substantially impair their value.
• C)it can prove it is commercially impracticable for it to keep the goods.
• D)the documents of title are in order.

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Definitions:

Reserve Requirement

A regulation set by central banks that specifies the minimum amount of reserves a bank must hold in relation to customer deposits.

Open Market Purchase

A monetary policy tool where the central bank buys government securities from the market in order to expand the money supply.

Money Supply

The total financial assets present within an economy, inclusive of cash, coins, and the amounts present in checking and savings accounts, at a certain point.

Reserve Requirement Ratio

The fraction of deposits that banks are required to hold in reserve, either in their vaults or with the central bank, not used for loans.