In a Sale on Approval

question 34

Multiple Choice

In a sale on approval:

• A) possession but not title is transferred to the buyer for a stated period of time.
• B) possession and title are transferred to the buyer for a stated period of time.
• C) title but not possession is transferred to the buyer for a stated period of time.
• D) title but not risk of loss remains with the seller until the buyer accepts the goods.

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Definitions:

Union Workers

Employees who are members of a labor union, an organization that represents their interests, particularly in negotiations for wages, working conditions, and benefits.

Negotiate Contract

The process of discussing terms and conditions between parties with the aim of reaching an agreement for a contract.

Public Sector Unions

Labor unions representing employees who work for government agencies at various levels, including local, state, and federal.

Governmental Authority

The legal power or right vested in government institutions and officials to enact and enforce laws, make decisions, and regulate society.