Question

In: Economics

Commercial painting company purchased 50 cans of specialty paint. Seller has 100 cans for sale in...

Commercial painting company purchased 50 cans of specialty paint. Seller has 100 cans for sale in his store. Painter cannot pick up the paint for 2 days but has paid in full. What protection should Painter insist on? That is, what term should be included in the contract for sale that would benefit Painter if the seller’s store blows up before pickup?
a.
Contract should provide a warranty for the quality of the paint.
b.
Contract should provide Buyer can get its money back if it finds a better deal.
c.
Contract should require the Seller to post a guard over the property.
d.
Contract should require Seller to identify the goods to the contract.

Commercial painting company purchased 50 cans of specialty paint. Seller has 100 cans for sale in his store. Painter cannot pick up the paint for 2 days but has paid in full. What protection should Painter insist on? That is, what term should be included in the contract for sale that would benefit Painter if the seller’s store blows up before pickup?
a.
Contract should provide a warranty for the quality of the paint.
b.
Contract should provide Buyer can get its money back if it finds a better deal.
c.
Contract should require the Seller to post a guard over the property.
d.
Contract should require Seller to identify the goods to the contract.

Personal property is best defined as anything NOT real property (land and everything permanently affixed to it), that is property that is capable of being moved. Which item below is not personal property?
a.
specially designed windows for a historic home that have been installed in a historically correct method. (The home is on the US historical register and must remain conforming in all aspects to its era).
b.
trees on a tree farm that have been cut and sold to the local lumber yard.
c.
ducting delivered to a home construction job site that will be installed in the heating/AC system next week.
d.
copyrights and patents owned by a business.

An appliance store salesperson told a potential customer that a particular wine refrigerator can chill wine to 40 degrees in one hour. The customer purchased the refrigerator. In fact, the temperature reached only 65 degrees, barely chilling a large bottle of champagne. If the customer sues the store, the likely cause will be for breach of _______________.
a.
puffery.
b.
a warranty of merchantability.
c.
a warranty of fitness for chilling small bottles only.
d.
a warranty of good title.

Solutions

Expert Solution

In the first question the correct option is d as if before the shop blows up the seller should rightfully identify the goods that he has sold in the contract. This will help both the seller and the painter as the identification of the product can be made.

To the second question the correct option is option b i.e. trees on a tree farm that have been cut and sold to the local lumber yard. As the trees are first of all not mentioned whether its planted by an individual or a local body therefore the tree can be termed as a non personal property or a real property as in the case of this question. The land belongs to the individual but not the trees on the farm. At the same time the farm where there are these trees is also not mentioned of being to a single individual.

In the third question the correct option is option c i.e. warranty of fitness for chilling small bottles only as it is mentioned by the seller that the wine will chill to 40 degrees in one hour. But it is not happening so as the temperature reached 65 degrees.


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