Sales of Contract(Business Law) Quiz

What is contract?

• just a paper to sign by parties

• bilateral or multilateral juristic act made

  between two or more parties to create rights and obligation

  enforced by law

• bilateral or multilateral juristic act made

  between one or more parties to create rights and obligation

  enforced by law

• bilateral or multilateral juristic act made between two or less parties to create rights less obligation

  enforced by law

What are the duties and liabilities of the buyer and seller in a sales contract?

• The buyer and seller have no specific duties or liabilities in a sales contract

• The buyer is responsible for delivery, while the seller is responsible for inspection

• The duties and liabilities of the buyer and seller in a sales contract include payment, delivery, inspection, and ensuring the goods are as described and fit for purpose.

• The buyer is only responsible for payment, while the seller is responsible for everything else

What is the law of Hire purchase?

• A legal agreement allowing a person to buy goods on credit and pay for them in installments over time.

• A law that allows only cash purchases for goods

• A law that requires immediate full payment for goods

• A law that prohibits the purchase of goods on credit

What are the particular kinds of sale?

• Blue sales, red sales, green sales, yellow sales

• Summer sales, winter sales, spring sales, fall sales

• In-store sales, out-of-store sales, upstairs sales, downstairs sales

• Retail sales, wholesale sales, direct sales, and online sales

What is the law of Hire of property?

• Legal principles governing the hiring or leasing of real or personal property

• Rules for buying property

• Regulations for selling property

• Laws for inheriting property

Who is responsible for the delivery of goods in a sales contract?

• The buyer

• The seller

• The manufacturer

• The delivery person

What are the rights of the buyer in a sales contract?

• Return the purchased goods or services

• Pay for the goods or services before receiving them

• Waive the right to seek legal remedies

• Receive the purchased goods or services, inspect the goods or services, seek legal remedies

What are the rights of the seller in a sales contract?

• Cancel the contract and keep the payment

• Receive payment and enforce contract terms

• Refuse to deliver the goods

• Change the price without notice

What are the consequences of breach of contract in a sales agreement?

• Free products for the customer

• Increased customer satisfaction

• No consequences at all

• Legal action, financial penalties, and potential damage to the business's reputation