Thomas Signed a Sales Contract with Bricklay's, a Firm That

question 43

Multiple Choice

Thomas signed a sales contract with Bricklay's, a firm that supplies bricks for private individuals.The contract specified the type and amount of bricks needed, and that Thomas would pick up the bricks from the Bricklay's warehouse 15 days later.Thomas received a document of title, but failed to pick up the goods on the stipulated date.In this scenario, at what point of time is the title to goods passed over to Thomas?

• A)when the sales contract was signed by both Thomas and Bricklay's
• B)when Thomas received the document of title
• C)when Thomas picks up the bricks from the Bricklay's warehouse
• D)when the stipulated date of pick-up of the bricks expires

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Definitions:

Reserved Funds

money set aside for specific purposes or emergencies, ensuring financial stability or fulfilling certain conditions.

Cashier's Checks

A check issued by a bank, drawn on its own funds and signed by a cashier, guaranteeing payment to the payee named on the check.

Issuing Banks

Financial institutions that provide cardholder services for credit, debit, or other payment cards, including the issuance of cards and management of the accounts associated with them.

Drawer's Signature

The signature of the person who writes a check or draft, legally binding the drawer to the terms of the document.