Chapter 19 - Sales Contracts
Authored by Eric Sader
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An outputs contract is an agreement in which buyer purchases all the production of seller.
True
False
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
CIF (cost, insurance, and freight) means buyer covers risk to load, ship, and insure goods.
True
False
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
FOB (free on board) Miami means that seller must deliver goods to the Miami at seller’s risk and expense.
True
False
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Shipment contract means that buyer must arrange for carrier to pick up and transport goods.
True
False
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
FAS means that seller must deliver goods alongside the vessel at the port at seller’s own risk and expense.
True
False
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A consignment is not a sale, but an entrusting in which the consignor bears the risk of loss.
True
False
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
UCC Article 2 governs most sale of goods transactions in the United States.
True
False
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