Final answer:
A buyer's legal obligations to a supplier include paying for goods, accepting delivery, and inspecting the goods received. Sellers may use warranties and detailed product information to reassure buyers dealing with imperfect information.
Step-by-step explanation:
The legal obligations of a buyer to a supplier generally include the following:
- Payment for Goods: The buyer is legally bound to pay for the goods or services received from the supplier according to the agreed terms.
- Acceptance of Delivery: The buyer must accept delivery of goods when they are tendered according to the terms of the purchase agreement.
- Inspection of Goods: The buyer is expected to inspect the goods upon arrival to ensure they meet the quality and standard agreed upon and to report any issues to the supplier within a reasonable timeframe.
Failure to fulfill these obligations could result in legal disputes and financial penalties. When buyers are faced with imperfect information, sellers may offer warranties, returns policies, and detailed product information to reassure them.