Willow Ltd sells and delivers goods to Daisy Ltd on 11 May. Both parties agree that Daisy Ltd will hold the goods on consignment to be sold to third parties. Daisy Ltd is not required to pay Willow Ltd for the goods until they are sold to a third party.Which of the following statements is incorrect?Group of answer choicesAt the time of delivery of the goods to Daisy Ltd there is no probability that future economic benefits will flow to Willow Ltd.Willow Ltd does not recognise any revenue until Daisy Ltd has on-sold goods to a third party.Willow Ltd retains the risks and rewards of ownership of the goods after delivery to Daisy Ltd.Willow Ltd recognises revenue on 11 May for the sale of goods to Daisy Ltd.

If goods have been delivered to a buyer on condition that the seller retains title until full payment:a.the buyer acquires title on full payment;b.none of the above.c.the buyer acquires title on delivery;d.the buyer acquires title before full payment if the goods have been safely stored on the buyer’s premises;

An exporter delivers goods to a retailer for sale to the public. If the exporter is paid only after sale to third parties, the arrangement is a

A seller is not obligated to try to resell the goods to someone else other than the intended buyer if she __________.Multiple choice question.tries to resell them without allotting the buyer's benefitsintends to use them for personal usesets aside goods intended for the contractfails to complete the manufacture of such goods

If the buyer and seller have agreed as to the manner in which the resale is to be made, the ________.Multiple choice question.courts will enforce the agreement if it is conscionablegoods will be sold at a public salecourts will enforce the agreement if it is unconscionablegoods will be sold at a private sale

Maggie wants to sell her unwanted Xmas presents at a garage sale in order to raise funds for a trip to Thailand. What is her legal position? Group of answer choices Maggie is not subject to the Consumer Guarantees Act as this is not activity in trade as described in the Act. The sales are not covered by the Consumer Guarantees Act because it does not cover the sale of second hand goods. The Consumer Guarantees Act need not apply to this transaction because Maggie can always enter an agreement with buyers stating that they have no rights under the Consumer Guarantees Act. All these statements are correct.