A Sale Made "CIF Foreign Port" Implies That the Terms

question 19

Multiple Choice

A sale made "CIF foreign port" implies that the terms of the sale are:

• A) Credit in foreign currency.
• B) Cash against documents.
• C) Credit against documents.
• D) Settlement pending approval of goods.

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Definitions:

Agreement In Force

A legal term referring to a contract or agreement that is currently active and legally binding.

Criminal Law

The body of laws that involve the rights and responsibilities an individual has with respect to the public as a whole.

Federal Law

Laws passed by the national government that are supreme over state laws and apply throughout the entire country.

Contract Modification

Any change or alteration to the terms of a contract agreed upon by all parties involved.