To Which One of the Following Contracts Would the Sale

question 71

Multiple Choice

To which one of the following contracts would the Sale of Goods Act apply?

• A) a contract for the sale and purchase of a farm
• B) a contract for the assignment of a company's "accounts receivable"
• C) a contract with an artist to have a portrait painted
• D) a contract in which one party gives an antique pin in exchange for the other party giving an antique cigar box
• E) a contract in which the seller sells a computer, and ownership will transfer to the buyer at a specified future time

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Definitions:

Defined Contribution Plan

A retirement plan where both the employee and employer contribute to an account, with the final benefit dependent on account performance.

Risk-free Return

The theoretical return on an investment with no risk of financial loss, typically less than the return on riskier investments.

Defined Contribution Plan

A retirement plan where an employee, employer, or both make contributions on a regular basis, with future benefits fluctuating based on investment earnings.