Which of the Following Is True Regarding Buyers or Lessees

question 36

Multiple Choice

Which of the following is true regarding buyers or lessees who want to accept nonconforming goods and then seek monetary damages?

• A) Buyers and lessees are allowed to do so in order to receive the benefit of the bargain, but they must give the seller/lessor reasonable notice of the defect.
• B) Buyers and lessees are allowed to do so in order to receive the benefit of the bargain, and there is no requirement that they give the seller/lessor prior notice of the defect.
• C) Buyers may do so in order to receive the benefit of the bargain so long as reasonable notice of the defect is given, but lessees may not.
• D) Lessors may do so in order to receive the benefit of the bargain so long as reasonable notice of the defect is given, but sellers may not.
• E) Buyers and lessees may do so only if the seller/lessor agrees to the retention of the nonconforming goods and does not request their return.

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Definitions:

Detrimental Reliance

The situation where an individual suffers a loss as a result of relying on a promise or statement made by another, which was later retracted or proved false.

Assignment

The transfer of rights, duties, or benefits from one party to another in a contract or agreement.

Contractor

An individual or company hired to perform work or provide services for another entity under terms specified in a contract.

English Rule

A legal principle stating that the losing party in a lawsuit must pay the winning party's legal costs.