B Is Known in the Trade as a Trader and Merchant

question 22

Multiple Choice

B is known in the trade as a trader and merchant of soybeans.A entrusts a load of soybeans to B for storage in B's warehouse.Secretly,B delivers the goods to an ocean carrier in return for a bill of lading.B then sells the document covering a shipment of soybeans to C,who has purchased soybeans from B in the past.C pays for the document through its bank.B absconds with the money.In this case:

• A) A may demand return of the soybeans from C.
• B) C has greater rights in the soybeans than A.
• C) A's only remedy is against the ocean carrier.
• D) C's bank is liable for committing a conspiracy against A.

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Definitions:

Efficiency Loss

The decrease in economic efficiency that occurs when a market outcome does not allocate resources in the most economically beneficial way, often due to externalities or market failures.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by everyone and one person’s use does not diminish another's.

Corporate Income Tax

A tax levied on the net income (accounting profit) of corporations.

Product Prices

The amount of money required to purchase a product, influenced by cost of production, supply, demand, and market competition.