Unless Otherwise Agreed, When Is Payment Due Between a Buyer

question 72

Multiple Choice

Unless otherwise agreed, when is payment due between a buyer and seller in a shipment contract?

• A)when the shipment is in transit
• B)when the goods are delivered
• C)when the contract was signed
• D)when the shipment is handed over to the carriers

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Definitions:

Corporations

Entities recognized by law as separate from their owners, with the ability to own assets, incur liabilities, and engage in business activities.

Debt Securities

Financial instruments representing money borrowed by the issuer that must be repaid, such as bonds, notes, and bills.

Interest Rates

The percentage of a sum of money charged for its use, typically expressed as an annual percentage.

Capital

Financial assets or resources that individuals or companies use to fund their business operations and investments.