If a Contract for the Sale of Goods Does Not

question 120

Multiple Choice

If a contract for the sale of goods does not specify where goods are to be delivered, the UCC presumes that in most cases:

• A) delivery is to the buyer's agent
• B) delivery to the buyer's place of business
• C) delivery is to the closest railroad or trucking station
• D) delivery is to a common carrier
• E) none of the other choices

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Definitions:

Purchase Commitments

Agreements to buy goods or services at a predetermined price, often specifying quantity and delivery dates.

Gross Profit Method

This is an accounting technique used to estimate inventory value, calculating gross margin as a percentage of sales to find the cost of goods sold and ending inventory.