When the Defendant's Property Located Within a State Is Seized

question 3

Multiple Choice

When the defendant's property located within a state is seized to obtain payment of a judgment from a court from another state that is unrelated to the property being seized,the jurisdiction over the property is known as ____ jurisdiction.

• A) quasi in rem
• B) in personam
• C) in rem
• D) forum non conveniens

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Definitions:

Condensed Income Statements

Simplified financial statements that summarize the revenue, costs, and expenses incurred during a specified period, showing the net income or loss.

Merchandising Companies

Businesses that purchase goods in a finished state and sell them as is, making profits from the sales margin.

Insurance In Transit

Coverage that protects goods from loss or damage while they are being transported from one place to another.

FOB Shipping Point

A term used in shipping indicating that the buyer assumes responsibility for the goods and shipping costs the moment the goods leave the seller's premises.