When May a Buyer Revoke Acceptance If a Nonconformity Substantially

question 75

Multiple Choice

When may a buyer revoke acceptance if a nonconformity substantially impairs the value of goods?

• A)For any reason within 7 days of acceptance.
• B)Only if the buyer had a legitimate reason for the initial acceptance.
• C)For any reason within 30 days of acceptance.
• D)For any reason within 24 hours of acceptance.
• E)For any reason within 48 hours of acceptance.

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Definitions:

Long Bonds

Bonds with a long duration to maturity, typically more than 10 years, and are sensitive to interest rate changes.

Period

A length or portion of time.

Capital Gains Yield

The part of an investment's total return that comes from the increase in its value, not including dividends or interest earnings.

Total Return

The overall gain or loss on an investment over a specific period, including both capital appreciation and dividends or interest, expressed as a percentage.