The Following Items Are Extraordinary Items EXCEPT

question 22

Multiple Choice

The following items are extraordinary items EXCEPT:

• A)loss due to hurricane damage of plant in Wisconsin.
• B)loss of vehicles due to damage from blizzard in Southern California.
• C)loss due to expropriation of company assets by a foreign government.
• D)loss on lawsuit.

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Definitions:

Contract Terms

The specific provisions and conditions outlined in a contract that determine the rights and duties of the parties involved.

Statue Of Limitations

Legal time limits within which actions must be filed in court; beyond this period, claims are no longer enforceable. Note: The correct term is "Statute of Limitations."

UCC

The Uniform Commercial Code is an extensive collection of legislation that regulates business dealings across the United States.

Express Warranty

An explicit guarantee made by a seller about the condition and quality of a product, forming part of the contract between buyer and seller.