On a Consignment Sale, the Payment Risk Is

question 86

Multiple Choice

On a consignment sale, the payment risk is:

• A) assumed by the buyer.
• B) assumed to be equally shared.
• C) carried by the seller.
• D) covered by insurance.
• E) covered by the bank issuing the L/C.

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Definitions:

Concrete

A composite material composed of fine and coarse aggregate bonded together with a fluid cement that hardens over time, used in construction.

Price Increase

The act of raising the cost of goods or services, often in response to market demand, production costs, or inflation rates.

Statute Of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the parties to be enforceable.

UCC

Refers to the Uniform Commercial Code, which is a broad collection of regulations that oversee all commercial dealings within the United States.