If the Parties to a Contract Do Not Agree on Payment

question 43

Multiple Choice

If the parties to a contract do not agree on payment terms,and a delivery is authorized and made by way of document of title,payment is due at the ________.

• A) place where the contract was initially signed
• B) time the seller dispatches the goods to the buyer
• C) place where the goods are to be delivered as per the original contract
• D) time and place at which the buyer receives the right of possession

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Definitions:

Common Stock

A type of financial security that represents ownership in a corporation, giving holders a share of the firm's profits and voting rights.

Accounts Payable

Accounts payable are liabilities or amounts owed by a company to its creditors for goods and services purchased on credit.

Accounts Receivable

Financial obligations of customers towards a business for provided goods or services, yet to be remunerated.

Office Supplies

Consumable items used in an office environment for day-to-day operations, such as paper, pens, and toner.