As Discussed in the Text,which of the Following Is True

question 47

Multiple Choice

As discussed in the text,which of the following is true regarding Japanese law and consumers?

• A) A special Consumer Contracts Law was developed to place consumers and businesses on a more equal footing in transactions.
• B) The Civil Code has more lax requirements regarding fraud than the country's Consumer Contracts law.
• C) The goal in regard to consumers is to form the law so that in litigation businesses are at a distinct disadvantage in regard to consumers.
• D) In order to encourage economic advancement and international investment, the goal is to form the law so that in litigation consumers are at a distinct disadvantage in comparison to businesses.
• E) Japanese law does not recognize rights of consumers as the buyer must beware.

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Definitions:

Merchandise

Goods that are bought and sold in the course of business operations, typically in a retail or wholesale context.

Credit Terms

The conditions under which a seller extends credit to a buyer, including the repayment time frame and any interest or discounts.

Trade Discount

A reduction in the listed price of a product or service, offered by a seller to a buyer in the business-to-business market.

Acid-Test Ratio

A financial metric that assesses a company's ability to pay off its short-term liabilities with its most liquid assets, excluding inventories.