The buyer and seller were arguing over a small river rock fountain, which before closing had been sunk into the patio and cemented in place. No mention of the fountain had been made during negotiations and both sales associates believed the fountain would stay. When the buyer went by to pick up the keys after closing, the fountain was gone and in its place was a small wooden windmill and 2 plastic gnomes. The seller claimed the fountain was personal property and the buyer claimed it was a fixture. Which statement about the fountain is true? . • The fountain was purchased by the seller. It should always be his. O The fountain should have been listed by the buyer in the contract. Since it was not, it is personal property. • The method of attachment in this case was cement. Clearly the item was affixed and permanent. O Even though the fountain was cemented into the ground, it is definitely personal property and does not have to be left for the buyer.

The buyer and seller were arguing over a small river rock fountain, which before closing had been sunk into the patio and cemented in place. No mention of the fountain had been made during negotiations and both sales associates believed the fountain would stay. When the buyer went by to pick up the keys after closing, the fountain was gone and in its place was a small wooden windmill and 2 plastic gnomes. The seller claimed the fountain was personal property and the buyer claimed it was a fixture. Which statement about the fountain is true? . • The fountain was purchased by the seller. It should always be his. O The fountain should have been listed by the buyer in the contract. Since it was not, it is personal property. • The method of attachment in this case was cement. Clearly the item was affixed and permanent. O Even though the fountain was cemented into the ground, it is definitely personal property and does not have to be left for the buyer.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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