A Sequence of Previous Conduct Between a Buyer and a Seller,which

question 7

Multiple Choice

A sequence of previous conduct between a buyer and a seller,which may be regarded as establishing an understanding for interpreting an agreement between the two parties,is known as:

• A) good faith.
• B) a course of dealing.
• C) a course of performance.
• D) usage of trade.

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Definitions:

Variable Interest Rate

An interest rate that can fluctuate over time, usually based on underlying economic indicators or indices.

Pay Off

To completely repay the outstanding balance of a loan or debt.

Simple Interest

An interest calculation method where the interest charge is based on the original principal amount of a loan or deposit and does not accumulate or compound.

Annum

A term referring to a year, often used in financial contexts to describe periods of time related to investments or contracts.