What Are the Two Types of Claims That Can Arise

question 25

Essay

What are the two types of claims that can arise in the event of project closure and why would one be chosen over another?

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Definitions:

Seller Transfers

The act of a seller handing over the rights, responsibilities, and ownership of products or property to the buyer.

Merchant

An individual or company engaged in the business of selling goods or services in the marketplace.

Ordinary Course of Business

Regular and routine operations of a company, including transactions and activities that are normal for the business.

Acceptance Effective

The point in time when an agreement to the terms of an offer is communicated by the offeree to the offeror, resulting in a legally binding contract.