Family Time Restaurant Has a Contract with Prime Meats for Prime

question 16

Multiple Choice

Family Time Restaurant has a contract with Prime Meats for Prime to deliver 100 pounds of ground sirloin twice a week for the next three months.If,on one delivery,Prime brings 95 pounds of ground chuck instead of 100 pounds of ground sirloin,

• A)Family Time may unquestionably reject the non-conforming goods because they vary in both quantity and quality.
• B)Family Time may reject the non-conforming installment only if it substantially impairs the value of that installment and cannot be cured.
• C)Prime has no right to cure.
• D)the perfect tender rule applies.

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Definitions:

Profit-Maximizing

The method through which a company identifies the pricing and production quantity that maximizes its profits.

Interest Rate

The percentage charged on the total amount of borrowed money or paid on deposited funds over a specific period.

Investment Project

A project involving the commitment of resources with the expectation of generating future returns or benefits.

Market Price

This term refers to the actual selling price of goods or services in the marketplace at any given time.