Sales Contracts, ownership, and risk of sales
Quiz by Elizabeth Garvin
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- Q 1/16Score 0A merchant is...29Someone who gives people things out of the goodness of their heartSomeone who sells on occasionHitchhikes around the nation looking for the grand canyonSomeone who sells for a living
16 questions
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- Q1A merchant is...Someone who gives people things out of the goodness of their heartSomeone who sells on occasionHitchhikes around the nation looking for the grand canyonSomeone who sells for a living30s
- Q2What is a barter?When parties exchange goods for servicesWhen parties trade money for servicesWhen parties exchange goods for goodsWhen parties party30s
- Q3A casual seller is...Someone who sells cookies to cookie monsterSomeone who is good at selling goods so their demeanor is casualSomeone who goes door to door selling goodsSomeone who sells occasionally30s
- Q4Ownership entails what?ServicesRightsMoneyProperty30s
- Q5Exceptions to the statute of frauds for sales contracts include...Goods specially made not suitable for othersAll of the aboveGoods the buyer paid forGoods received and accepted30s
- Q6A price is what?Consideration for a sale or contract to sell goodsThe acceptance for a sale or contract to sell goods30s
- Q7All of the following are exceptions to rules about transfer of ownership except...Holders of negotiable documents of title may transfer better title than they haveMerchants who keep possession of goods they have sold may transfer better title than they haveBuyers of stolen goods recieves both profession and titleBuyers in the sale induced by fraud of the seller may transfer better title30s
- Q8The uniform commercial code includesNone of the abovePatents, copyrights, trade makersIntangible personal propertyMoney30s
- Q9FOB meansMake America Great AgainFree On BoardForward Operating BaseFreight On Board30s
- Q10Which best descibes a VendeeSellerBellerSuyerBuyer30s
- Q11Which best describes a VendorBuyerBellerSellerSuyer30s
- Q12Which of the following are true about merchants with possession of sold goods?Merchant may resell and deliver goods to a good faith purchaserOnce the Merchant sells a good to the purchaser, the latter receives the good's titleAll of the AboveMerchant must replace the resold goods or be liable to original owner30s
- Q13What is a bill of salea certification allowing you to buy goodsA receipt of what you boughtnone of the abovethe good you purchased30s
- Q14All of the following are examples of people authorized to sell exceptSheriffsTeachersAuctioneersSalesperson in a retail store30s
- Q15What does COD mean?Condemn on demandCollect on deliveryCall of dutyIt's a type of fish30s
