My Custom Shop, Inc., (MCS) bought an 18-year-old Ford Ranger truck with 178,000 miles at auction for

Question:

My Custom Shop, Inc., (MCS)

bought an 18-year-old Ford Ranger truck with 178,000 miles at auction for about $1,300. MCS made several improvements to the vehicle and then sold it to Seth Kiewiz for $3,800, verbally promising to replace any malfunctioning parts that it had installed. Both the purchase contract and the “sticker” attached to the truck’s window stated that the vehicle was being sold “AS IS,” without any warranties.

Kiewiz immediately noticed problems with the truck’s engine and brakes. After MCS made several failed attempts to resolve these issues, Kiewiz demanded a full refund. MCS refused. Kiewiz sued, claiming breach of the implied warranty of merchantability. Should Kiewiz be able to return the truck for a full refund?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 100% (QA)

In this scenario the purchase contract and the sticker attached to the trucks window both stated tha...View the full answer

Answered By

Asim farooq

I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening. My Expert Service Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities

4.40+ 65+ Reviews 86+ Question Solved

Related Book For book-img-for-question

Business Law Text And Exercises

ISBN: 9780357717417

10th Edition

Authors: Roger LeRoy Miller, William E. Hollowell

See More Books

Question Posted: Feb 25, 2024 05:00 AM

See More Questions

My Custom Shop, Inc., (MCS) bought an 18-year-old Ford Ranger truck with 178,000 miles at auction for

Question:

Step by Step Answer:

In this scenario the purchase contract and the sticker attached to the trucks window both stated tha...View the full answer

Business Law Text And Exercises

Students also viewed these Social Science questions