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Cavinder Enjoys Off-Road Driving and Purchases a New Jeep for That

question 10

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Cavinder enjoys off-road driving and purchases a new jeep for that purpose.After returning home, he discovers that the jeep is unsuitable for off-road driving.In which of the following circumstances will Cavinder be unable to rely on the implied statutory term requiring goods to be fit for their purpose?


Definitions:

Collectibility

The likelihood or ability of a company to collect payments from customers for goods or services provided, considered when recognizing revenue.

Completed Transaction Method

An accounting method that recognizes revenue and expenses only when a transaction has been completed.

Net Income

Final earnings of a business once all deductions including taxes and expenses are made from the initial revenue.

Premium Wheat

Wheat that surpasses standard quality criteria and may therefore command a higher price on the market.

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