B Is Known in the Trade as a Trader and Merchant

question 22

Multiple Choice

B is known in the trade as a trader and merchant of soybeans.A entrusts a load of soybeans to B for storage in B's warehouse.Secretly,B delivers the goods to an ocean carrier in return for a bill of lading.B then sells the document covering a shipment of soybeans to C,who has purchased soybeans from B in the past.C pays for the document through its bank.B absconds with the money.In this case:

• A) A may demand return of the soybeans from C.
• B) C has greater rights in the soybeans than A.
• C) A's only remedy is against the ocean carrier.
• D) C's bank is liable for committing a conspiracy against A.

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Definitions:

Long-Term Asset

Assets owned by a company that are intended for use over a long duration, typically more than one year, such as real estate, machinery, and patents.

Statement of Cash Flows

A financial report that provides aggregate data regarding all cash inflows and outflows a company receives from its ongoing operations, investing, and financing activities.

Net Increase

The amount by which something grows or rises, subtracting decreases from increases over a period of time.

Financing Activities

Transactions and events that affect long-term liabilities and equity of an organization, such as issuing stock or obtaining a loan.