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A force majeure clause serves as a general excuse for non-performance of a sales contract in all situations. True or False. Explain.
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- Every sales contract imposes an obligation of good faith in its performance. Please explain the concept of good faith. (Be detailed in your response.)If an issue arises after the completion of a transaction, which of the following actions should a salesperson take to remedy the situation? O slect one answer. The salesperson should act promptly and resolve any Issues that may arise before the parties take legal action. The salesperson should first review the agreement and verify the relevant information, to accurately advise the seller or buyer as required. The salesperson should first arrange for compensation and reimburse the buyer or seller for any loss they may have The salesperson should inform their client that since the transaction has closed, they are no longer obligated to provide further services to them. incurred.The company will allow a policy change from a lower premium to a higher premium provided the insured A) Buys a new plan altogether B) Presents satisfactory evidence of insurability C) Momentarily assigns the policy to the company D) Obtains written consent from his or her spouse
- 8- Identify the correct answer from the following who are benefitted from personal selling. a. Company, salesman, and buyers b. Buyers and salesman c. Company and salesman d. Salesman and DistributorsWhich of the following is a legal principle that allows consumers to cancel certain types of contracts within a specified period of time? a) Breach of contract b) Rescission c) Implied warranty d) Statute of frauds e) None of the aboveIn the following quote: "The BFOQ standard adopted in the statute is one of“ reasonable necessity, ”not reasonableness." What is the distinction between "reasonable necessity" and "reasonableness?"
- The seller's agent has certain duties to the client-principal. Duties of the principal include cooperating with the agent but being able to limit the availability of the property for showings. compensating the agent but only if an offer at the full listing price is received. suggesting marketing strategies to the agent. dealing with the agent in good faith. 20000L.L. Bean sends a catalogue to Olivia. A letter addressed to Olivia is attached to the cover of the catalogue. In the letter, the CEO of the company invites Olivia to buy any item in the catalogue at the listed price. This is a. an offer because there is no room for price negotiation. b. not an offer. c. an offer because of the letter. d. an offer only if Olivia previously bought items from L.L. Bean.Listing Agent Pete is willing to help sell Seller Cami's condo but believes it will take a lot of work. Because of this, Pete wants to make sure that his efforts result in a well-earned commission. Given his stated desire, predict which type of listing agreement Pete will insist on entering into with Cami. exclusive right-of-sale listing open listing exclusive-agency listing net listing
- Busieness law - How does the right of resale protect the interests of an unpaid seller?Courts generally consider advertisements to be a: • Negotiation • Contract • Promise • OfferBart Inc. developed a new medical rub called “NoPain Muscular Rub” that can be used in the event of muscular back pains. Bart Inc. via an online advertisement, stated that they are willing to pay $5,000 to anyone who used their muscle rub “Nopain” for one week and still suffers with back pains thereafter. Bill who suffer from back pains, saw the online advertisement and decided to purchase “NoPain Muscular Rub”. He used it for a full week, but nevertheless still suffered from back pains. Based on the fact that the muscular rub “Nopain” did not relieve his back pains, he sued Bart Inc. for the monies that were promised. However, Bart Inc. argued that the advertisement was not an offer, but an invitation to invite offers. They further argued that at no point in time did Bill make an offer and as such, they are not bound to pay him any monies, since the parties did not create any binding agreement. Advised Bill on his legal options using IRAC