Which of the Following Holds True of Revocation of Acceptance

question 40

Multiple Choice

Which of the following holds true of revocation of acceptance by the buyer?

• A)He/she can revoke acceptance when the nonconformity substantially impairs the value of the goods.
• B)He/she cannot revoke if the buyer accepted the goods because of assurances by the seller.
• C)He/she can revoke acceptance even after accepting goods with the knowledge of the nonconformity.
• D)He/she after revoking acceptance will not have the same rights and duties with regard to goods involved as they had rejected them.

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Definitions:

Stock-index Futures

Futures contracts based on stock indices, which allow investors to buy or sell the future performance of a stock market index.

Housing Market

The market segment related to buying, selling, and renting residential properties.

Convergence

The phenomenon where the futures price of a commodity tends to approach the spot price as the contract expiration date nears.

Margin

The practice of buying an asset by using funds borrowed from a broker, often used in stock trading to leverage investments.