BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The offeror fails to object within a reasonable time
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The goods are accepted by the buyer
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Delivery is made
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The final payment is made
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Detailed explanation-1: -The Act provides for remedies for the unpaid seller against the buyer under Section 55 and Section 56; for the buyer against the seller under Section 57, Section 58, and Section 59; and for buyer and seller, both can seek redress under Section 60 and 61 of the Act in case of breach by either party.
Detailed explanation-2: -An output contract is a type of contract common to agriculture or energy law where a buyer agrees to buy the seller’s entire output of some agreed-upon product or service; also known as an entire-output contract.
Detailed explanation-3: -This situation is often referred to as the ‘battle of the forms’. For example: party A offers to supply goods or services to party B on party A’s standard terms and conditions; party B accepts the offer, but says that it does so on the basis of its own standard terms.