The General Rule in Sales Is Caveat Emptor

question 61

Multiple Choice

The general rule in sales is caveat emptor.Which of the following statements about that concept is TRUE?

• A)Caveat emptor is a Latin phrase that means that a person cannot sell more than he or she actually owns.
• B)Caveat emptor is a Latin phrase that means "let the seller beware."
• C)Because of the concept of caveat emptor, the buyer normally must pay for goods as soon as they are delivered.
• D)The implied term regarding merchantability is an exception to the general rule of caveat emptor.
• E)Caveat emptor is a Latin phrase that means that, after the codification of the Sale of Goods Act, judges should resolve disputes on the basis of the statute and not on the basis of old cases.

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Definitions:

LMX Quality

Refers to the quality of the leader-member exchange relationship, highlighting the dynamic and reciprocity between leaders and their followers.

LMX Theory

Leadership Member Exchange Theory focuses on the relationship between leaders and their team members, emphasizing the importance of dyadic relationships.

Laboratory Experiments

Controlled tests or investigations conducted in a lab setting where variables can be manipulated and outcomes can be measured to study behavior or phenomena.

Field Experiments

Research studies conducted in natural settings outside the laboratory to test hypotheses in real-world conditions.