UCC Rules on Acceptance of Goods and Payment in Regard

question 1

Multiple Choice

UCC rules on acceptance of goods and payment in regard to installment contracts mandate that

• A) acceptance is not made until all shipments are received and then payment is made.
• B) acceptance is made separately for each shipment, but payment is not due until the final shipment is received.
• C) payment must be made in advance, and acceptance occurs after all shipments are received.
• D) acceptance is made separately for each shipment, and payment for each shipment is due on delivery of that shipment.

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Definitions:

Making Money

The process of earning a profit or revenue, typically through business activities, employment, or investments.

Nonprofit Organization

An entity that operates for a purpose other than to make profits for its owners, often focused on social, charitable, or community goals.

For-Profit Organization

An organization that operates with the main goal of making a profit, typically by selling goods or services.

Privately Owned

property or businesses solely owned by individuals or private entities, not controlled by the government or public sector.