The Person Who Assumes the Risks and Uncertainties of Starting

question 162

Multiple Choice

The person who assumes the risks and uncertainties of starting a new business is considered to be:

• A) the manager.
• B) the out-resourcer.
• C) a sales representative.
• D) an entrepreneur.

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Definitions:

Goods-In-Bailment

Items that are temporarily entrusted to another party (the bailee) for a specified purpose, under a bailment agreement, but ownership remains with the person who entrusts the goods (the bailor).

Negotiable Document

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, that can be transferred to another holder.

Nonnegotiable Document

A document that cannot be transferred or assigned to another party in a way that confers the original holder's rights to the recipient.

Origin Contract

An agreement made between parties in the country of exportation, dictating the terms of the exchange of goods or services.