For Necessary Charges and Expenses,a Carrier Has a Lien on Goods

question 47

True/False

For necessary charges and expenses,a carrier has a lien on goods in its possession covered by a bill of lading.

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Definitions:

Terms of Sale

The conditions under which a sale is made primarily with respect to payment. Terms include a date on which payment is due and often specify a prompt payment discount that may be taken if payment is made within a specified time.

Lock Box Systems

A service provided by banks to companies for the quick collection of payments from customers by directing those payments to a special post office box.

Float Management

The practice of managing the time difference between issuing and clearing checks to optimize the available cash flow.

Lock Box Systems

A service offered by banks to companies for the receipt of payment from customers, involving the collection of payments in regional post office boxes and processing them quickly.