Wright Wants to Open a Store to Sell Movie Memorabilia

question 1

Multiple Choice

Wright wants to open a store to sell movie memorabilia and is considering locating it in a regional shopping mall.Before opening his new store,what does he need to understand?

• A) There is usually a problem with store image because malls have no unified image,as a shopping centre does.
• B) The leases required by mall owners are usually inexpensive.
• C) His store could be the mall anchor.
• D) The mall atmosphere and that of neighbouring stores will help attract shoppers.

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Definitions:

Perfect Tender Rule

A principle in the sale of goods law that allows buyers to reject goods if they do not exactly meet the terms of the contract.

Substantial Perform

This refers to a situation in contract law where a party has completed enough of their contractual obligations that they are considered to have fulfilled the contract, despite minor issues or incomplete details.

Right to Cure

The legal opportunity given to a defaulting party to correct or remedy their failure or breach within a specified time frame before further legal action is taken.

UCC

The Uniform Commercial Code encompasses a wide-ranging body of legal principles that control commercial transactions across the United States.