Quaff N' Quench Café Buys Twenty-Five Crates of Oranges from Reynaldo

question 32

Multiple Choice

Quaff n' Quench Café buys twenty-five crates of oranges from Reynaldo Produce, Inc. Reynaldo ships the oranges "F.O.B. Quaff n' Quench" via Sham Shipping Company. The oranges rot in transit. The loss is suffered by​

• A) ​Quaff n' Quench.
• B) Sham.
• C) ​F.O.B.
• D) ​Reynaldo.

---

Definitions:

Debt Settlement

A negotiation process where a debtor and creditor agree on a reduced balance that will be considered as payment in full.

Uncertain Debt

A debt whose existence or amount is not clear or determined.

Composition Agreement

An arrangement where creditors agree to accept a partial payment from a debtor in full satisfaction of their claims.

UCC

The Uniform Commercial Code represents an all-encompassing series of legal directives that control all forms of commercial transactions within the U.S.