Reference - New Furniture. Penny purchased $3,000 worth of furniture from Bob's furniture shop. Through an arrangement with Bob, Penny financed the purchase through a financing company called Let Us Help You. Twenty-nine days after the goods were delivered to her, Penny had a disagreement with Let Us Help You regarding the amount of interest she would be required to pay. She notified Bob on that day that she was rejecting the goods. Bob claimed that she did not properly reject the furniture and also that she acted in bad faith. Penny says that she properly rejected and denies that she acted in bad faith. She also says that, in any event, she cannot be charged with both wrongful rejection and also bad faith because of double jeopardy. Which of the following is true regarding the standard of good faith that would be applied in regard to Penny?
A) In this situation, good faith means honesty in fact.
B) In this situation, good faith means honesty in fact and also reasonable commercial standards of fair dealing.
C) In this situation, good faith means perfect tender.
D) In this situation, good faith means a lack of commercial impracticability.
E) In this situation, good faith means both perfect tender and a lack of commercial impracticability.
Correct Answer:
Verified
Q38: Which of the following is the right
Q88: Which of the following are damages for
Q89: Reference - New Furniture. Penny purchased $3,000
Q90: Stacy, located in Florida, is entering into
Q91: Reference - Boat Tow. Donnie went to
Q92: Which of the following must a buyer
Q94: Reference - Boat Tow. Donnie went to
Q95: Which of the following is true regarding
Q96: Mary sells handmade earrings for a living.
Q98: Under which of the following circumstances will
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents