You and I Have Entered into a Contract for the Sale

question 68

Multiple Choice

You and I have entered into a contract for the sale of a boat.We have agreed that I will deliver possession of the vessel to you at the same time that you pay the purchase price of $10 000.You have the option of paying with either cash or a certified cheque.Which of the following statements is TRUE?

• A)You would prefer to pay with a cheque because $10 000 in cash does not easily fit into your pocket.
• B)You would prefer to pay with cash because cash is less risky than a cheque if a theft occurs.
• C)I would prefer to receive a cheque because it is more difficult for me to transfer cash to a stranger.
• D)I would prefer to receive cash because a certified cheque would not give me any rights against the drawee bank.
• E)Certification of a cheque would be relevant only if I intended to negotiate the cheque to someone other than a bank.

---

Definitions:

Least Harm

A principle aiming at minimizing the negative impact of actions or decisions on individuals, communities, and the environment.

Utilitarian

A theory or doctrine that actions are right if they are useful or for the benefit of a majority.

CEO Salaries

The compensation provided to the Chief Executive Officer of a company, often including a mixture of base salary, bonuses, shares, and other incentives.

Fairness

The quality of treating people equally without favoritism or discrimination.