A Supplier and a Retailer Have a Long,established Relationship

question 30

Multiple Choice

A supplier and a retailer have a long,established relationship.Earlier contracts between them have always provided the standard "within 30 days of delivery" payment provision.A new contract between them makes no reference to payment terms.What would a court most likely rely on to arrive at a decision that payment is due within 30 days of delivery?

• A) customs in the trade
• B) past dealings
• C) business efficacy
• D) statutory requirements

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Definitions:

Next Financial Year

The forthcoming fiscal period for a business or organization, following the current fiscal year.

Actual Performance

The real, observed outcomes or results achieved by an individual, team, or organization, often compared against planned or expected performance.

Control

The process of directing, monitoring, and adjusting resources and operations to achieve certain objectives.

Actual Performance

The real, observed results achieved by an organization or individual, contrasted with planned or expected performance.