MGTU 310 Week 3 Quiz | Assignment Help | Brandman University
- brandman-university / MGTU 310
- 23 Apr 2021
- Price: $5
- Management Assignment Help / Business Management Assignment Help
MGTU 310 Week 3 Quiz | Assignment Help | Brandman University
• Question 1
Which of the following is most likely to fall in the category of intangible personal property?
Knowledge
Copyrights
Annual growing crops
Land
• Question 2
The unauthorized exercise of ownership rights over another's property is known as a(n) _____.
accession
rescission
bailment
conversion
• Question 3
Sara visited Ben's, a famous designer jewelry store, to buy herself a necklace. She browsed through the store's product catalogue and chose a particular model of diamond necklace. After she chose it, the manager at Ben's sent an order to the manufacturer to make the necklace. Which of the following statements is true at this point in the scenario?
The necklace is an identified good.
Ben's holds the title to the diamond necklace.
Only a contract to sell has been made between Sara and Ben's.
The title to the necklace will pass to Sara as soon as the necklace is made.
• Question 4
As per the UCC's definition of sale, in which of the following transactions has a sale taken place?
A sublets an apartment for the summer from b.
A pays B to repair his car.
A buys a spare USB charger for his phone.
A purchases the digital license to new software for his computer.
• Question 5
Macy's, an auction house, was slated to put up ten paintings for auction. During the course of the auction, the auctioneer announced that three of the paintings could be recalled at the discretion of the auction house. In such a scenario, the seven remaining paintings will be known as goods offered _____.
without terms
without reserve
with terms
with reserve
• Question 6
Goods that are specifically made for the buyer and are of such an unusual nature that they are not suitable for trade in the ordinary course of the seller's business are called _____.
nonresellable goods
auction goods
resellable goods
speciality goods
• Question 7
Which of the following best describes the term "title"?
It is the right of ownership of property or evidence of ownership.
It is the temporary transfer of possession of personal property.
It is the transfer of possession of goods for the purpose of sale.
It is the right to inherit property in the future.
• Question 8
Which of the following is an example of a consignment?
A sells 10 sacks of wheat to B at the market price.
A delivers a motorcycle to B for servicing.
A sends a shipment of farm produce to B for sale.
A sends one ton of wheat to B's warehouse for storage.
• Question 9
Jack, a second-hand dealer of cars, provides his clients with the opportunity to examine them. Jenny test-drove a car and got it checked by her mechanic as well. However, the mechanic missed a broken valve and the car broke down after the purchase. Which of the following is likely to happen in this scenario?
Jack is exempt from prosecution as the principle of caveat emptor applies.
Jack is responsible for selling a faulty car and can be prosecuted for fraud.
Jenny can claim compensation through courts as per the principle of caveat emptor.
Jack can be prosecuted by the mechanic for misleading him during purchase.
• Question 10
The statement of the seller in which the article sold is warranted or guaranteed is known as an _____.
express warranty
unconditional warranty
universal warranty
express guarantee
USA 
India