[Wrecked Toaster] Ivan Goes to Upscale Housewares Store Smith-Napa to Buy

question 6

Multiple Choice

[Wrecked Toaster] Ivan goes to upscale housewares store Smith-Napa to buy himself a nice new toaster, because his old one broke. The store does not have the model he wants in stock, but they can have it shipped from the warehouse directly to Ivan. It is agreed that the toaster will be placed with a common carrier for delivery. The contract between Ivan and Smith-Napa is ambiguous regarding whether the seller had the duty to deliver the goods only to the common carrier's hands or whether the seller had the duty to deliver the goods to Ivan's home. Unfortunately, on the way to Ivan's home, through no fault of the delivery driver, the delivery truck was involved in a collision, and the toaster was damaged beyond repair.
-Ivan and Smith-Napa entered into which of the following contracts?

• A) A common-carrier delivery contract
• B) A trucking contract
• C) A goods-in-bailment contract
• D) A conditional sales contract
• E) A conditional delivery contract

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Definitions:

Current Account

A component of a country's balance of payments that encompasses the trade balance, net primary income, and secondary income.

Net Investment Income

The income generated from investments after deducting all related expenses, such as interest payments, fees, and taxes.

Purchases of Real Assets

The acquisition of physical or tangible assets such as real estate, equipment, or commodities.

Financial Account

A component of the balance of payments that records transactions that cause a change in ownership of financial assets and liabilities between residents and non-residents.