Sam's and Costco Are Examples of

question 118

Multiple Choice

Sam's and Costco are examples of

• A) discounters.
• B) warehouse clubs.
• C) warehouse showrooms.
• D) discount clubs.
• E) wholesalers.

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Definitions:

F.O.B. Ocean City

Free on Board Ocean City, a shipping term indicating that the seller is responsible for goods and their cost of transport until they are loaded aboard a vessel at Ocean City.

Destination Contract

A type of contract specifying that the seller is responsible for the goods until they are delivered to a specific destination or address as indicated in the contract.

Shipment Contract

A legal agreement where the seller is obligated to send the goods to a specific destination, with the risk of loss passing to the buyer upon delivery to the carrier.

Voidable

A contract or transaction that is valid until one party, who is entitled to do so because of some legal deficiency, chooses to void it.