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On May 1,S sells B 100 widgets on credit at a price of $1 per widget.S did so based on an April 10 letter from B asserting B's solvency.On May 7,B learns that S was insolvent when it received the widgets on May 1.On May 13,S demands the return of the goods from B.Is B obligated to return the goods to S?
Yes.Although S did not demand the goods within ten days of their receipt,as required by UCC section 2-702(2),this requirement does not apply in cases where the buyer has made a written misrepresentation of solvency within three months of the goods' delivery.
Nash Equilibrium
A concept in game theory where each player's strategy is optimal, given the strategies of all other players, leading to a situation where no player has an incentive to unilaterally change their strategy.
Michigan Football
Refers to the college football program representing the University of Michigan, known for its long history and success in the sport.
Probability .70
A statistical measure indicating that an event has a 70% chance of occurring.
Mixed Strategy Equilibrium
A concept in game theory where players use a random mixture of actions in strategic games, ensuring that no player has an incentive to deviate from their strategy given the strategies of the other players.
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