Assume a Buyer and Seller Execute a Contract in Which

question 71

Multiple Choice

Assume a buyer and seller execute a contract in which the seller is going to deliver a couch later in the day to the buyer. With a simple delivery contract in which the seller is a merchant, which party sustains a loss if, through no fault of either party, the couch is destroyed through fire prior to delivery?

• A) The seller
• B) The buyer
• C) Loss is proportioned 50% to the buyer and 50% to the seller
• D) Loss is proportioned 75% to the buyer and 25% to the seller
• E) Loss is proportioned 25% to the buyer and 75% to the seller

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Definitions:

Negative Attitude

A tendency to view situations, objects, or people in an unfavorable or pessimistic light, which can influence decision-making and behavior patterns.

Position Themselves

The strategy used by companies to define their market standing or niche, distinguishing themselves from competitors.

Postpurchase Cognitive Dissonance

The feeling of uncertainty or regret that a consumer may experience after making a purchase decision.

Lessen Dissonance

The act of reducing conflict or inconsistency, especially in the context of cognitive dissonance in psychology, where individuals strive for internal consistency between their beliefs and actions.