Zander,a Seller in Miami,enters into a Contract Which States That

question 35

Multiple Choice

Zander,a seller in Miami,enters into a contract which states that goods are to be delivered to Xavier,a buyer,in New York.Title is to remain with Zander until delivery to Xavier.This is:

• A) a shipment contract.
• B) an FOB Miami contract.
• C) a destination contract.
• D) a contract voidable by the buyer until delivery.

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Definitions:

Dishonored

Refers to a financial instrument (check, promissory note) that is not accepted or paid upon presentation.

Primarily Liable

Being the first or main party responsible for fulfilling a debt or obligation.

Secondarily Liable

Pertains to a party that holds liability not as the primary party responsible but as a backup in case the primarily liable party fails to fulfill their obligations.

Personally Liable

The state of being legally responsible for debts or obligations out of personal assets, not limited to business or corporate assets.