Adam Goes to a Hardware Store and Tells the Salesclerk

question 33

Multiple Choice

Adam goes to a hardware store and tells the salesclerk that he needs a paint that will dry overnight because he was painting his front door and a rainstorm is predicted for the next day. The clerk gives him, a slow-drying oil-based paint that takes two days to dry. The store has breached a (n) _____.

• A) implied warranty of fitness for particular purpose
• B) warranty of infringement
• C) warranty of the course of dealing
• D) warranty of usage of trade
• E) implied warranty of merchantability

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Definitions:

Upstream

In the context of oil and gas, it refers to exploration and production activities; in supply chain management, it relates to the procurement of raw materials.

Downstream

In business, refers to processes or activities that occur toward the end of a supply chain, often associated with the distribution and sale of finished products.

Equity Method

This involves documenting investments when the investor holds substantial influence over the entity being invested in, without having total control.