Where a Contract Involves the Provision of Both Goods and Services

question 1

Multiple Choice

Where a contract involves the provision of both goods and services it will only be a contract for the sale of goods for the purposes of application of the sale of goods legislation if:

• A)The main purpose of the contract is the provision of services and the transfer of ownership of goods is ancillary to that purpose.
• B)The main focus of the contract is the transfer of ownership of the goods and the provision of services is ancillary to that purpose.
• C)The substance of the contract is the skill and expertise of one of the parties.
• D)The contract is specifically expressed to be a contract for the sale of goods.

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Definitions:

Nonmonetary Award

A reward given to employees that does not involve financial compensation, often used to acknowledge accomplishments or motivate performance.

Stock Bonuses

A form of incentive compensation where employees are awarded shares of the company's stock, aligning employee interests with shareholder interests.

Company Picnic

A social event organized by a company for its employees, often held outdoors and including food and recreational activities, intended to foster team spirit and camaraderie.

Stock Options

Financial derivatives that give the holder the right, but not the obligation, to buy or sell shares of a company at a specified price before a certain date.