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CIPS L4M3 Exam - Topic 6 Question 1 Discussion

Which of the following are implied terms in sales contracts? Select THREE that apply.
C) Transfer of ownership and D) Risk transfer and E) Fitness for purpose
A) Payment method
B) Customer satisfaction
F) Mode of transportation

CIPS L4M3 Exam - Topic 6 Question 1 Discussion

Actual exam question for CIPS's L4M3 exam
Question #: 1
Topic #: 6
[All L4M3 Questions]

Which of the following are implied terms in sales contracts? Select THREE that apply.

Show Suggested Answer Hide Answer
Suggested Answer: C, D, E

Generally, under the Sale of Goods Acts (in UK, Singapore, Australia,...) or Commercial Codes (in France, Germany, Vietnam,...), the sale contracts have the following implied terms:

- the seller has the right to sell the goods. This is also a condition of the contract

- the goods are free from undisclosed security interests

- the goods supplied under the contract will be reasonably fit for any purpose which the buyer made known to the seller

- sales of unseen goods will be of merchantable quality, and match their description and conform with a sample.

- Passing of risk

- Passing of possession and title

...


LO 3, AC 3.1

by Lorean at Oct 12, 2022, 03:24 AM

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Jutta
10 months ago
Wait, are we really saying payment method is implied? That seems off.
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Cristy
10 months ago
Risk transfer is a must in sales contracts!
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Tonette
10 months ago
Not sure about customer satisfaction being implied.
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Mica
11 months ago
I think fitness for purpose is also implied!
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Maurine
11 months ago
Transfer of ownership is definitely an implied term.
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Sue
11 months ago
I thought "payment method" was more of an explicit term, but I guess it could be implied in some cases?
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Rodolfo
11 months ago
I feel like "fitness for purpose" is also an implied term, but I can't recall if "customer satisfaction" counts.
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Lamonica
11 months ago
I remember practicing a question about implied terms, and "risk transfer" seemed important in that context.
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Gilberto
11 months ago
I think "transfer of ownership" is definitely one of the implied terms, but I'm not sure about the others.
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Catarina
11 months ago
This is a tricky one, but I think I've got a strategy. I'll carefully read through each option and try to visualize how the team member hierarchy change would impact the existing targets.
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Micah
11 months ago
The FULL option for ANALYZE can reduce the file size, so I'm pretty sure C is correct. I'm not as sure about the other statements, though.
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Bernadine
11 months ago
This is a good test of our PIM knowledge. I remember the Candidate-RP uses a specific multicast address to communicate with the BSR, so I'll eliminate the unicast options and go with A.
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Rodrigo
11 months ago
Okay, let me think this through step-by-step. I know mutual funds can't be purchased on margin, and investors can buy and sell fractional shares. The 7-day payout requirement also sounds familiar. I think I've got a good handle on this.
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