Jones LtdPlaces an Order with Playgoods Ltd

question 70

Multiple Choice

Jones Ltd.places an order with Playgoods Ltd.for 100 children's playhouses.The contract provides that Playgoods Ltd.will pack the playhouses in boxes carrying the Jones Ltd.name and its "J" logo,which Jones Ltd.will supply.Jones Ltd.supplies the boxes,but before Playgoods Ltd.has had an opportunity to pack the playhouses into the boxes,the playhouses are destroyed by a fire in its warehouse.In this case

• A)title had not yet passed to Jones Ltd.because Playgoods Ltd.failed to notify Jones Ltd.that the playhouses had not been packed in the appropriate boxes.
• B)title to the playhouses passed to Jones Ltd.at the time Jones Ltd.supplied the boxes.
• C)title to the playhouses would have passed to Jones Ltd.when Playgoods Ltd.packed the playhouses in the appropriate boxes.
• D)title to the playhouses did not yet pass to Jones Ltd.because Playgoods Ltd.failed to set the playhouses aside.
• E)title to the playhouses passed to Jones Ltd.at the time of the contract.

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Definitions:

Disinflation

A reduction in the rate of inflation, indicating a slowdown in the rate at which prices for goods and services rise.

CPI

A gauge called the Consumer Price Index tracks the overall cost of a varied mix of consumer items and services like food, healthcare, and transport, by measuring their weighted average prices.

Cost Of Living

The amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a particular place and time.

Base Year

A specific year chosen as a point of reference for comparing economic data, such as price levels, over time.