Bill Is Injured While Standing on the Corner of Hollyhock

question 16

Multiple Choice

Bill is injured while standing on the corner of Hollyhock and Vine when Mia's new Hog speeds out of control because of a defective part.In most jurisdictions,Bill:

• A) can sue the motorcycle manufacturer even though he does not have privity.
• B) cannot sue the motorcycle manufacturer because his injuries are personal injuries as opposed to economic loss.
• C) cannot sue the motorcycle manufacturer because the lemon laws require arbitration.
• D) cannot sue the motorcycle manufacturer because there is no privity of contract.

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Definitions:

Vendors

Businesses or individuals that sell goods and services.

Double-Entry Bookkeeping System

An accounting system where every entry to an account requires a corresponding and opposite entry to a different account, ensuring the accounting equation remains balanced.

Single-Entry System

An accounting method where each financial transaction is recorded only once, either as an expense or income, making it simpler but less comprehensive than double-entry systems.

Cash Flow

The total amount of money being transferred into and out of a business, affecting its liquidity, solvency, and overall financial health.