If Parties to a Contract Do Not Specify When Payment

question 67

Multiple Choice

If parties to a contract do not specify when payment should be made.Under the UCC,payment must be made:

• A) within 90 days.
• B) within 60 days.
• C) within 30 days.
• D) within a reasonable time.
• E) at the time and place of deliver of the goods or title.

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Definitions:

Choices

Options available to individuals or organizations from which a decision can be made.

Information Search

The stage in the buying process where consumers actively seek out information to fill a gap in their knowledge about products or services.

Consumer Purchase Decision

The process by which an individual decides what products or services to buy based on factors such as need, desire, and affordability.

External Environment

The outside factors and influences that affect an organization's decision-making process and performance, including economic, social, political, and technological factors.