Key Terms Instructions: Please Define the Following Key Terms

question 55

Essay

Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Jeremiah

---

Definitions:

Shipment Date

The shipment date is the day on which goods are officially transferred from the seller to the carrier or dispatched for delivery to the buyer.

FOB Shipping Point

A shipping term indicating that the buyer assumes responsibility for the goods and shipping costs the moment the goods leave the seller's premises.

Title Passes

Refers to the transfer of ownership of property or goods from a seller to a buyer upon the fulfillment of certain conditions.

Shipment Date

The date on which goods are dispatched to a customer.