When Delivery Is to Be Made Without Moving the Goods

question 40

Multiple Choice

When delivery is to be made without moving the goods, unless otherwise agreed, title passes:

• A) at the time and place of contracting under all circumstances.
• B) when a document of title is created if a negotiable document of title is involved.
• C) when the goods are identified if they were not identified at the time of contracting.
• D) at the time the seller completes performance.

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Definitions:

Surplus

The situation in which the quantity of a good or service supplied exceeds the quantity demanded at the current price; often occurs in markets where a price ceiling prevents the price from rising to its equilibrium level.

Market Price

The current price at which an asset or service can be bought or sold, determined by supply and demand.

Black Market

An illegal trading environment where goods or services are exchanged outside of government-sanctioned channels.

Price Controls

Government-imposed limits on the prices charged for goods and services, typically to control inflation or to ensure affordability.