[Disappointing Boat Purchase] Ava Went to Purchase a New Boat

question 24

Multiple Choice

[Disappointing Boat Purchase] Ava went to purchase a new boat.She wanted a boat she could use in a nearby lake and also take to the coast for use in ocean waters.Ava saw a boat she liked in the showroom.She showed the boat to Brock,the sales representative at the dealership,and stated that she wanted a boat for both lake usage and ocean usage.Brock told her that the dealership had the best boats in the state,that the engine was great in the boat she liked,and that she would have no problem with steering or with the carburetor.He said nothing about whether or not the boat was an appropriate vessel for ocean waters.Ava purchased the boat.She immediately began to have significant problems with it.The engine did not perform adequately,and there were problems with the steering and carburetor.Additionally,Ava attempted to take the boat onto ocean waters and had significant difficulty.She later discovered that it was not an ocean-going vessel.It was only appropriate for lake usage.
-Which of the following is true concerning Brock's statement that the boats at the dealership were the best in the state?

• A)The statement established both a warranty of merchantability and a warranty of fitness for a particular purpose,but not any other type of warranty.
• B)The statement constituted an express warranty but not any other type of warranty.
• C)The statement constituted a warranty of merchantability but not any other type of warranty.
• D)The statement was opinion and did not establish any type of warranty.
• E)The statement constituted an implied warranty of fitness for a particular purpose but not any other type of warranty.

Recognize the role of trust and relationship building in international business negotiations and the ethical considerations that come with it.

Identify ethical behavior in the context of corporate social responsibility, including the distribution of credit and dealing with nepotism.

Discern between ethical and unethical behaviors concerning gift giving, favoritism, and personal use of company resources.

Comprehend the importance and components of a company's code of ethics as a guideline for conduct within the business.

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Definitions:

Adverse Selection

A situation where sellers have information that buyers do not have, or vice versa, leading to an unbalanced and inefficient market.

Genetic Testing

The examination of DNA sequences to identify changes in genes or chromosomes, which can provide insights into genetic disorders or predispositions to diseases.

Adverse Selection

A situation where sellers have information that buyers do not have, or vice versa, leading to an inefficient market outcome.

Health Insurance Market

The marketplace in which individuals, families, and employers purchase health insurance policies to offset the cost of medical care.