If a Merchant Receives Goods Unsolicited with a Note,"If I

question 17

Multiple Choice

If a merchant receives goods unsolicited with a note,"If I don't hear from you,I assume you will keep them and pay for them",failure to respond to the sender is an acceptance

• A) unless a rejection is sent within three (3) days upon receipt
• B) silence is an acceptance
• C) no acceptance
• D) must return the goods within three (3) days.

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Definitions:

Bank Run

A situation where a large number of a bank's customers try to withdraw their deposits simultaneously because they believe the bank might fail.

Canadian Deposit Insurance Corporation (CDIC)

A federal crown corporation in Canada that provides deposit insurance to protect the deposits made by consumers in member financial institutions in case of their failure.

Bond Indenture

A legal and binding agreement between the bond issuer and the bondholders that specifies the terms of the bond, including the repayment schedule, interest rate, and the duties and responsibilities of both parties.

Bondholders

Individuals or entities that hold debt securities issued by corporations or governments, entitling them to receive fixed interest payments.