Beth Was Negotiating for the Purchase of a Used Car

question 67

Essay

Beth was negotiating for the purchase of a used car from Sue.Sue told Beth that Sue would fix any problems with the drivetrain that arose in the first 1,000 miles.After further negotiation,they signed a written agreement that provided that the sale was made "as is,without any warranties." After driving the car for 400 miles,the antilock brake system failed.Sue denied having made the repair promise.But she said she would cover $200 of the repair costs.Beth then took the car to be repaired at a cost of $487.Beth now wants to recover the full repair costs from Sue.Sue refuses to pay any amount.Discuss the issues that would arise in this case.

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Definitions:

Housing Prices

The financial cost required to purchase residential properties; influenced by location, demand, and other economic factors.

Adjustable Rate Mortgages

A type of mortgage loan in which the interest rate can change over time, based on changes in a reference interest rate or index.

Expansionary Monetary Policy

A form of economic policy that aims to increase the money supply and reduce interest rates to stimulate economic growth.

Economic Stability

Economic Stability is a condition in which an economy experiences constant growth, moderate inflation, and low unemployment rates over time.