Answer :
Final answer:
A seller can reassure a buyer facing imperfect information by providing detailed product information, offering warranties, and demonstrating transparency. Imperfect information may lead to difficulty in agreeing on a price due to quality uncertainty. Trust-building measures by the seller are key to overcoming these challenges.
Explanation:
When a seller fails to deliver perfect tender, it refers to a situation where the delivered goods or services do not meet the contractual terms or expectations between the buyer and the seller.
A seller may reassure a possible buyer who is faced with imperfect information by providing detailed product descriptions, offering warranties, showcasing customer testimonials, and being transparent about the product's features and benefits.
Since imperfect information can make it difficult for buyers to assess the quality of a product, these assurances can build trust and convey the value of the seller's goods, possibly leading to an agreement on price.
However, when imperfect information exists, it can be challenging for a buyer and seller to agree on a price because of the risk associated with the unknown factors about the product's quality. The buyer may be unwilling to pay a higher price without evidence of the product's high quality, and the seller may find it hard to demonstrate that quality.
In such cases, the timing of the transaction can also influence the willingness to trade, as either party may change their mind or the product may no longer be available or suitable for trading.
