Having Made It Clear That She Would Not Buy Any

question 41

Multiple Choice

Having made it clear that she would not buy any tractor that had been involved in a fatal accident,and having been assured that the one she chose had never been in such an accident,Farmer Brown bought a tractor from Cornfeldt's Farm Machinery for $15,000 under a conditional sales contract.Cornfeldt assigned the contract to Titewod Finance,which gave proper notice of the assignment to Farmer Brown.Shortly after,Farmer Brown found out that this tractor had rolled over on another farmer and killed him,so she immediately returned the tractor to Cornfeldt and demanded a refund because of the misrepresentation.The salesman had known of the accident when he sold the tractor to her.

• A)Farmer Brown can get her money back but she has no right not to pay Titewod and must continue to do so.
• B)Titewod took the assignment subject to the equities and any defence to a suit for non-payment launched by Cornfeldt would also be a defence to a suit for non-payment launched by Titewod.
• C)Farmer Brown can get her money back and does not have to pay Titewod.
• D)Titewod can get its money back from Cornfeldt even though there was no misrepresentation to Titewod.
• E)b,c and d.

---

Definitions:

Interval Estimate

An assortment of values, from sample statistics, which is envisioned to contain the value of a mysterious population parameter.

Population Mean

The average value of all elements in a complete set of a population.

Population Standard Deviation

A measure of the dispersion or spread of a set of data points in a population dataset.

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter with a certain level of confidence.