If Shipment Is Made Under a Time Draft, the Exporter

question 49

True/False

If shipment is made under a time draft, the exporter is paid as soon as the products have been shipped and the draft is presented to the importer for payment.

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Definitions:

Common-Carrier Delivery

The transportation or delivery of goods or people by a service offered to the public under license or authority provided by a regulatory body.

Void Title

Not true title; for example, the title held by someone who knowingly or unknowingly purchased stolen goods.

French-Based Code Law

A legal system based on comprehensive written statutes and codes as a primary source of law, in contrast to common law systems; it is derived from the Napoleonic Code.

Merchant

An individual or company engaged in the buying and selling of goods for profit.