Which of the Following Is True of an FAS (Free

question 31

Multiple Choice

Which of the following is true of an FAS (free alongside) contract?

• A) The seller must deliver the goods alongside the vessel at his or her own risk and expense.
• B) The seller must deliver the goods alongside the vessel at the buyer's risk and expense.
• C) It does not include maritime contracts.
• D) It is not accompanied by the name of a specific vessel or port.

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Definitions:

Similarity

The degree to which two or more things resemble each other in terms of attributes, characteristics, or qualities.

Fundamental Attribution Error

The tendency to overemphasize personality traits and underestimate situational factors when explaining others' behaviors.

Availability Heuristic

A cognitive rule of thumb that says that the perceived probability of an event or the importance assigned to it is based on its availability in memory.

Augmenting Principle

A principle in attribution theory suggesting that if an event occurs despite the presence of strong opposing forces, we should attribute the event to the actions of the agent.