Unless the Parties Agree Otherwise,when Is Payment Required for Goods

question 134

Multiple Choice

Unless the parties agree otherwise,when is payment required for goods that are accepted?

• A) when and where the goods are delivered
• B) at least 10 days before shipment
• C) at least 24 hours before shipment
• D) at least 48 hours after delivery
• E) at least 5 days after delivery

Recognize the ethical and legal issues involved in business dealings and the exploitation of trust or authority.

Differentiate between the various factors that can affect the enforceability of a contract such as concealment, duress, and undue influence.

Evaluate the relevance and application of legal doctrines in specific contractual disputes and case law.

Understand the importance of factual bases and the reliance on them in forming contracts.

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Definitions:

Gain-Sharing Plan

A compensation strategy where employees receive bonuses based on the company's profits or improvements in performance, fostering a sense of ownership and teamwork.

Lump-Sum Increase

A one-time payment given to employees, typically in lieu of recurring pay raises, often based on performance.

Skill-Based Pay

A compensation strategy where employees are paid based on the number, depth, or complexity of skills and knowledge they can bring to their work, rather than their job title or position.

Job Assignment

The designation of particular work roles or activities to employees based on their skills, interests, and the needs of the organization.