Which of the Following Holds True of Revocation of Acceptance

question 44

Multiple Choice

Which of the following holds true of revocation of acceptance by the buyer?

• A) A buyer can revoke acceptance of nonconforming goods when the nonconformity substantially impairs the value of the goods.
• B) A buyer cannot revoke acceptance of nonconforming goods if the buyer accepted the goods because of assurances by the seller.
• C) A buyer can revoke acceptance of nonconforming goods even after accepting goods with the knowledge of the nonconformity.
• D) The right to revoke acceptance can be exercised any time after the buyer discovers the nonconformity.

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Definitions:

Funeral Cost

Funeral Cost pertains to all expenses incurred for the burial or cremation and the associated ceremonies and services following a death.

Federal Estate Tax

A tax imposed by the federal government on the transfer of the taxable estate of a deceased person, whether it passes via will, according to state law, or in other ways.

Charitable Remainder Trust

A tax-exempt trust arrangement designed to reduce the taxable income of individuals by first donating assets to a charity and then receiving a portion of the income generated by these assets for a certain period.

Charitable Lead Trust

A trust designed to provide financial support to one or more charitable organizations for a specific period, with the remaining assets eventually passing to non-charitable beneficiaries.