John, a Salesman for the Computer Division of B

question 123

Multiple Choice

John, a salesman for the computer division of B & C Machines Ltd., is meeting with a potential customer at 11:00 tomorrow morning. Because the customer does not have the funds to pay the full price of the system required, he wants to discuss chattel mortgages and conditional sales contracts. Which of the following is false with regard to these contracts?

• A) Both contracts are governed by the Personal Property Security Act.
• B) In both cases, the debtor is entitled to have the lien removed upon final payment.
• C) Only a conditional seller needs to register his interest for protection against third-party claims; a chattel mortgagee need not do so.
• D) If the seller of goods is willing to allow the buyer to pay by installments, he could use either a conditional sale contract or a chattel mortgage to obtain security for payment of the debt.
• E) Both contracts provide that the debtor has quiet possession of the goods given as security as long as he is not in default.

---

Definitions:

Assumption of Normality

The presumption that the data being analyzed is drawn from a normally distributed population, which is a common requirement for many statistical tests.

Distribution Shape

Describes the overall appearance of the data's frequency distribution, including characteristics like symmetry, skewness, and kurtosis.

Descriptive Statistics

Statistics that summarize, describe, and analyze a set of data, providing insights into its central tendency, variability, and distribution.

Assumption of Normality

The presumption that the data in a dataset is normally distributed, which is a common precondition for many statistical tests.