Which of the Following Statements Is Correct with Respect to the Sale

question 31

Multiple Choice

Which of the following statements is correct with respect to the Sale of Goods Act?

• A)The parties are restricted to contract out of any of the terms of the Sale of Goods Act.
• B)The Sale of Goods Act does apply to the sale of land.
• C)The terms included in the Sale of Goods Act override the terms agreed upon by the parties to such a sale of goods.
• D)Some of the terms of the Sale of Goods Act are implied in the contract of sale.
• E)The Sale of Goods Act does apply to the assignment of a contractual claim.

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Definitions:

Machine Hours

A measure of the amount of time a machine is operated, often used for accounting, cost allocation, or operational planning.

Labor Hours

The total number of hours worked by all employees in a specific time period.

Marginal Product

The additional output that is gained by employing one more unit of a particular input, holding all other inputs constant.

Total Output

The quantity of goods and services produced by a firm or economy over a specific period.