In the in Re L

question 49

Multiple Choice

In the In Re L. B. Trucking, Inc. case:

• A) warranty provisions of the UCC did not apply because the sale of goods was merely incidental to the service aspect of the contract.
• B) Thomas's statements were found by the court to be mere puffing or sales talk.
• C) Southern States was found to have breached both express and implied warranties.
• D) Durham did not rely on Thomas's statements, so they could not be considered warranties.

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Definitions:

Leasing Agreement

A contract where one party agrees to rent property owned by another party for a specified time period in exchange for payment.

Capital Markets

Financial markets in which long-term debt or equity-backed securities are bought and sold, serving as a platform for raising capital.

Long-Term Bonds

Bonds that are due for payment or redemption at a date more than ten years in the future, often offering a higher yield due to the increased risk.

Stocks

Shares of ownership in a company, giving shareholders a claim on the company’s earnings and assets.