The Terms in a Contract of Sale Relating to Delivery

question 22

Multiple Choice

The terms in a contract of sale relating to delivery are mainly concerned with the

• A) specific conditions of place, time, and quantity.
• B) implied warranties concerning the physical condition and acceptance of goods.
• C) specific warranties of quantity, time, and place.
• D) implied conditions under the Sales of Goods Act.
• E) physical condition of the goods.

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Definitions:

Closely Held Corporations

Corporate entities characterized by a small number of shareholders, with shares that do not trade on public exchanges and are often family-owned or controlled.

Limited Partnership

A business structure in which one or more of the owners may be granted limited liability as long as one partner is designated as a general partner with unlimited liability.

General Partnership

A business structure in which the business owners share the management and risk of the business.

Limited Liability

A legal structure that protects company owners' personal assets from business debts and liabilities.