In the Following Situations, Two Parties Claim the Same Goods

question 16

Essay

In the following situations, two parties claim the same goods. Who is most likely to prevail in each circumstance? Explain.
(a) Czeslaw steals Denise's Ultra HD TV set and sells it to Ezra, an innocent purchaser, for value. Denise learns that Ezra has the set and demands its return.
(b) Gwendolyn takes her all-terrain vehicle (ATV) for repair to Hank's Sales & Repair, a merchant who fixes and sometimes sells used ATVs. By accident, one of Hank's employees sells Gwendolyn's ATV to John, an innocent purchaser-customer, who takes possession. Gwendolyn wants her ATV back from John.

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Definitions:

Financial Statements

Compiled documents that present an organization’s financial activity and condition, typically including the balance sheet, income statement, and statement of cash flows.

Independent Auditors

Professional auditors who are not employees of the company being audited and provide an unbiased opinion on the truth and fairness of a company's financial statements.

Financial Statements

Reports that summarize the financial performance and position of a company, including the balance sheet, income statement, and cash flow statement.

Accuracy

The extent to which the outcome of a calculation, measurement, or specification matches the accurate value or a standard.