Leigh Wants to Go into the Business of Construction Contracting

question 36

Multiple Choice

Leigh wants to go into the business of construction contracting. Among the reasons that would probably convince Leigh to set up his business as a sole proprietorship would be

• A)its greater organizational flexibility.
• B)its limited liability.
• C)its perpetual existence.
• D)the ease of transferring the business to other family members.

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Definitions:

Express Warranty

An explicit guarantee by a seller regarding the condition, quality, or performance of a product or service.

Basis of Bargain

The fundamental assumptions or agreements that form the underlying basis for a contract or transaction.

Furlong v. Alpha Chi Omega

A specific legal case or controversy, but without further detail, its significance cannot be determined. If it's a real case, it would be related to a legal dispute involving the parties named.

Shipment Contract

A legal agreement specifying that the seller will bear the risk of loss or damage to the goods until they are delivered to the carrier.