If You Buy a Toaster from a Second-Hand Dealer of Small

question 95

Multiple Choice

If you buy a toaster from a second-hand dealer of small appliances, which of the following is true?

• A)The Sale of Goods Act prohibits the seller from exempting himself from liability in the event that the toaster is not fit for purpose.
• B)The risk of loss depends on who has possession of the toaster.
• C)The Sale of Goods Act does not apply.
• D)Title to the toaster would pass at the time the buyer picked it up the next day.
• E)There is an implied term of the contract that the seller has good title (i.e., the right to sell it). Correct: 0

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Definitions:

Initial Setup Costs

The expenses incurred during the setting up of a new business, project, or system before it is operational.

Economic Condition

The state of a country or region in terms of the production and consumption of goods and services and the supply of money.

Expected Value

The anticipated value for a given investment in the future, taking into account both the probability and the magnitude of all possible outcomes.

Wager Amount

The sum of money staked on the outcome of a bet or gamble.