If a Contract Is for the Sale of Specific Goods

question 39

Multiple Choice

If a contract is for the sale of specific goods:

• A)ownership passes at the time the contract is formed, regardless of when payment or delivery takes place.
• B)the buyer does not become the owner until the goods are selected and agreed upon by both parties.
• C)ownership passes at the time that payment for the goods takes place.
• D)ownership passes at the time delivery of the goods is carried out.

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Definitions:

Year-End Payments

Financial obligations that are due or paid at the end of the fiscal year, such as bonuses or tax liabilities.