All Independent Contractors Are Agents,but Not All Agents Are Independent

question 29

True/False

All independent contractors are agents,but not all agents are independent contractors.

Grasp the concept of quiet possession and quality expectations under the Sale of Goods Act.

Understand the implications and conditions of risk in the sale of goods.

Distinguish between an agreement to sell and a sale.

Understand the jurisdictional nuances of consumer protection and sales law.

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Definitions:

Profit Margin

A financial metric depicting the percentage of revenue that exceeds the costs of goods sold, showing the profitability of a business.

Net Sales

Company sales revenue post deduction of returns, allowances for imperfections or absences, and discounts.

Depreciation

An accounting method of allocating the cost of a tangible asset over its useful life to account for declines in value over time.

Plant Assets

Durable physical assets employed in the running of a business, designed for long-term use and not for being sold off.