A Conditional Sales Contract

question 45

Multiple Choice

A conditional sales contract:

• A)passes title to the goods sold to the buyer at the time the contract is signed.
• B)normally calls for one lump sum payment on the contract payment date.
• C)generally has a built-in interest cost.
• D)is payable immediately upon receipt.
• E)is a formal bid for a project.

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Definitions:

Emotional Distress

A legal term for the psychological impact experienced by an individual due to another's action, which can sometimes lead to legal action for damages.

Substantial Factor Test

A legal standard used to determine causation, examining whether an action was a significant contributor to an event or injury.

Ultrahazardous Activity

involves actions or operations that inherently pose significant risk of causing substantial harm, for which those involved may be held strictly liable for any damages.

Comparative Negligence

Comparative negligence is a legal doctrine that reduces the amount of damages a plaintiff can recover in a negligence-based claim, based upon the degree to which the plaintiff's own negligence contributed to the cause of their injury.