Which of the Following Is Not a Term Implied into Contracts

question 46

Multiple Choice

Which of the following is not a term implied into contracts by the operation of s 17 of the Sale of goods Act 1923 (NSW) ?

• A)That the seller has a right to sell the goods.
• B)That the buyer will enjoy quiet possession of the goods.
• C)That the price for the goods will be in accordance with current market value.
• D)That the goods will be free from any charge or encumbrance in favour of any third party not declared or known to the buyer before or at the time the contract is made.

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Definitions:

Accounts Receivable

Money that a business is due to receive from its customers for products or services already supplied but not paid for.

Salaries Expense

The overall cost incurred by a company to pay its employees, typically recorded as an operational expense.

Service Revenue

Income earned by a company through the provision of services to customers.

Owner's Capital

The amount of equity a business owner has invested in the firm or the net worth attributable to them, reflecting their financial stake.