The Case in the Text,Pittman V

question 59

Multiple Choice

The case in the text,Pittman v.Henry Moncure Motors,demonstrates that:

• A)11 years of continued use constitutes acceptance.
• B)a buyer may revoke acceptance after accepting the goods because of the seller's assurances that it would cure the defect but eventually,never cures the defect.
• C)a buyer's failure to notify a seller within a reasonable amount of time that the goods are nonconforming waives any claims it may have for breach of contract.
• D)a buyer can revoke acceptance when the nonconforming goods minimally impairs the value of the goods.

---

Definitions:

Fixed Asset Turnover Ratio

A financial metric that measures a company's ability to generate net sales from fixed assets like property, plant, and equipment.

Cost Basis

The original value of an asset for tax purposes, usually the purchase price, adjusted for stock splits, dividends, and return of capital distributions.

Appraisal Value

An estimation of a property's market value based on an appraiser’s knowledge, experience, and analysis of the property.

Mortgage

A loan typically used to purchase real estate, where the property itself serves as collateral for the loan.