Which of the Following Statements Is TRUE as a General

question 37

Multiple Choice

Which of the following statements is TRUE as a general rule?

• A) Property passes under an unconditional contract for the sale of specific goods in a deliverable state only once the buyer pays the price.
• B) Property passes under a contract that requires the seller to do something to ascertain the price of the goods as soon as the price is determined.
• C) Property passes under a contract that requires the seller to modify the goods in order to put them into a deliverable state only when the goods are delivered to the buyer.
• D) Property passes under a contract that requires the seller to test the goods as soon as the seller does so and notifies the buyer.
• E) Property passes under a contract "on sale or return" only if the buyer pays the price.

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Definitions:

Special Requirements

Special requirements indicate specific additional criteria or considerations that are not typically part of standard requirements.

Variations

Differences or deviations in a set of items, data points, or processes from a norm or standard.

Transaction Obligation

The requirement to complete a financial transaction that has been agreed upon, including payment and delivery.