Which of the Following Is True Regarding Buyers or Lessees

question 105

Multiple Choice

Which of the following is true regarding buyers or lessees who want to accept nonconforming goods and then seek monetary damages?

• A) Buyers and lessees are allowed to do so in order to receive the benefit of the bargain, but they must give the seller/lessor reasonable notice of the defect.
• B) Buyers and lessees are allowed to do so in order to receive the benefit of the bargain, and there is no requirement that they give the seller/lessor prior notice of the defect.
• C) Buyers may do so in order to receive the benefit of the bargain so long as reasonable notice of the defect is given, but lessors may not.
• D) Lessors may do so in order to receive the benefit of the bargain so long as reasonable notice of the defect is given, but buyers may not.
• E) Buyers and lessors may do so only if the seller/lessee agrees to the retention of the nonconforming goods and does not request their return.

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Definitions:

Prediction Error

The difference between observed values and the values predicted by a model.

Intercept

In mathematics and statistics, the point at which a line or curve intersects a given axis on a graph.

Predicted Income

An estimate of future income based on variables such as education, occupation, and previous earnings.

Correlation

A statistical measure that expresses the extent to which two variables change together, suggesting a possible relationship between them.