Question

When has a seller fulfilled his obligation to deliver the goods if they are in the possession of a third person?

A) Upon transfer of title
B) When the third person acknowledges receipt
C) Once the buyer is informed
D) After written acknowledgment by the buyer

Answer 1

There are several ways a seller can reassure a buyer faced with imperfect information, including providing detailed product information, offering warranties or guarantees, and providing references or testimonials.

Step-by-step explanation:

When a seller of goods is faced with imperfect information, there are several ways they can reassure a possible buyer:

1. Providing detailed product information: The seller can give the buyer all the necessary information about the product, including specifications, features, and any potential limitations.
2. Offering warranties or guarantees: By offering warranties or guarantees, the seller is assuring the buyer that they stand behind the quality and performance of the product.
3. Providing references or testimonials: The seller can provide references or testimonials from previous satisfied customers, which can help build trust and confidence in the buyer.

By employing these strategies, the seller can alleviate the buyer's concerns and provide reassurance in the face of imperfect information.