Question
Business Law
ich of the following remedies are available to both buyers and sellers in a a. Cover b. Cure c. Specific performance d. Adequate assurances Sales Contract? 31. All are examples of sales of goods except: a. Buying a television from an electronic store b. Selling your used car to your neighbor c. Hiring an attorney to draft you a contract d. A coffee company purchasing coffee grounds daily from a Columbian coffee company 32. Stephen and Jack are both avid sailors. When a sailing acquaintance put his older, but still highly desirable, boat up for sale, Stephen and Jack agreed to pool their resources to buy and fix up the boat, then sell it and split the profits. This is an example of a(n) a. General partnership b. Limited partnership c. Joint venture d. Proprietorship ofthe following is an informal association of two or more persons wheo 33. Wh agree to engage as co-owners in a single business transaction? a. Joint venture b. General partnership c. Trading group d. Limited partnership the tax rule that makes income taxable only for the produces it? t is the provision of viduals who receive it, and not for the business entity that a. Double taxation b. Pass through c. Dividend retention d. Income averaging 34. Wha business organization that is subject to the most 35. What is the form of a. Corporation b. Partnership c. Limited Partnership d. Professional Association regulation at the state and federal
Explanation / Answer
30. The answer will be option D. Adequate assurances.
31. Option C i.e, Hiring of attorney to draft you a contract is not an example of sale of goods.
32. The given scenario will be the example of Joint Venture I.e, option C.
33. Option C I.e, Trading Group is an informal association of two or more persons who agree to engage as co- owners in a single business transaction.
34. Pass through I.e, option C will be the proper answer for the given scenario where the Individual is liable to pay the tax on income and not the firm which produces it.
35. Option.A I.e, Corporation is that form of business that is subject to most regulations at the state and federal level.
