Which of the following statutes apply to business activities involving information technology?
i) the Integrated Circuit Topography Act
ii) the Copyright Act
iii) the Sale of Goods Act
iv) the Negligence Act
A) i and ii
B) i, ii, and iii
C) ii and iii
D) ii, iii, and iv
E) i, ii, iii, and iv
B
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Sal offered Owen a cashier's check for $5,000 on July 1, 2005 in payment of a debt to him. The interest on the loan was 8% and Owen had taken Sal's boat as collateral to secure the debt. Owen refused the tender, claiming that Sal actually owed him $7,000. The dispute was litigated and, on October 1, 2006, a court issued a judgment for Sal, confirming that the amount owed was $5,000. As a result of Sal's tender on July 1 and the court decision
a. Sal owes no interest on the debt after July 1, 2005. b. Owen must pay the court costs c. Owen loses his security interest in the boat. d. All of the above
The figure used by the lender in determining the maximum loan amount to borrow is that
A) purchase price or appraised value, which ever is less. B) appraised value minus the purchase price. C) purchase price. D) assessed value.