If It Is Generally Accepted in the Trade That a Certain

question 38

Multiple Choice

If it is generally accepted in the trade that a certain product is always preassembled,the failure of the seller to deliver the goods in that condition would be a breach of the ________.

• A)Implied warranty of trade usage
• B)Implied warranty of quality
• C)Implied warranty of merchantability
• D)Express warranty of integrity
• E)Implied warranty of fitness for a particular purpose

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Definitions:

Inside Information

Privileged, non-public information about a company that could provide a financial advantage in the stock market if used.

Corporate Employees

Individuals who are employed by corporations and contribute to its operations and success through their work.

Corporate Securities

Refers to financial instruments issued by corporations, such as stocks and bonds, representing an ownership stake or a debt obligation.

Ponzi Scheme

A fraudulent investing scam promising high rates of return with little risk to investors, which generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities.