For each of the following scenarios, answer these two questions: 1. Ďoes the contract fall under the provisions of the Australian Consumer Law (ACL)? (Answer 'yes' or 'no') 2. With reference to the ACL, explain why you said yes or no. a) Peach purchases a large silver and glass display cabinet for $32,00 for her clothing and jewellery shop. b) Maddy buys a second-hand BMW from her professor, Zoe, for $10,000. c) A large furniture company pays $9,000 for precious walnut timber to build a cupboard. d) Brittany buys herself a brand-new Corvette for her 21st birthday for $120,000. e) Oliver makes the winning bid of $5,000 for a set of golf clubs at a traditional auction.
For each of the following scenarios, answer these two questions: 1. Ďoes the contract fall under the provisions of the Australian Consumer Law (ACL)? (Answer 'yes' or 'no') 2. With reference to the ACL, explain why you said yes or no. a) Peach purchases a large silver and glass display cabinet for $32,00 for her clothing and jewellery shop. b) Maddy buys a second-hand BMW from her professor, Zoe, for $10,000. c) A large furniture company pays $9,000 for precious walnut timber to build a cupboard. d) Brittany buys herself a brand-new Corvette for her 21st birthday for $120,000. e) Oliver makes the winning bid of $5,000 for a set of golf clubs at a traditional auction.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:For each of the following scenarios, answer
these two questions: 1. Ďoes the contract fall
under the provisions of the Australian
Consumer Law (ACL)? (Answer 'yes' or 'no') 2.
With reference to the ACL, explain why you
said yes or no. a) Peach purchases a large
silver and glass display cabinet for $32,00 for
her clothing and jewellery shop. b) Maddy
buys a second-hand BMW from her professor,
Zoe, for $10,000. c) A large furniture company
pays $9,000 for precious walnut timber to
build a cupboard. d) Brittany buys herself a
brand-new Corvette for her 21st birthday for
$120,000. e) Oliver makes the winning bid of
$5,000 for a set of golf clubs at a traditional
auction.
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