Which of the Following Would Be the Best Example of a Broker

question 349

Multiple Choice

Which of the following would be the best example of a broker?

• A) Tri-State Lumber Supply does not actually store, handle, or deliver lumber, but rather solicits orders from retail hardware and home improvement stores, takes title to the lumber, then arranges for it to be shipped directly from sawmills to the retail stores.
• B) Jill Moon helps buyers and sellers of used heavy construction equipment negotiate the terms and conditions of their transactions, but does not actually take title to any of the equipment, nor does she develop long-term relationships with the buyers or sellers.
• C) Hal Hinton is not an employee of Hyloft Golf Clubs, but he does solicit sales for their products at golf and sporting goods stores in a fairly large sales territory.
• D) Spence Coker is employed by a vacuum cleaner company, and goes door-to-door selling products produced by his company.

---

Definitions:

Gratuitous Loan

A loan where the lender does not charge interest or fees, often made among family or friends or for charitable reasons.

Bailor's Sole Benefit

Refers to a situation in a bailment where the benefit of the arrangement is exclusively for the bailor, with the bailee undertaking the responsibility without receiving any benefit.

Without Compensation

Performing an action or providing a service without receiving any form of payment or benefit in return.

Heir

A person legally entitled to receive a share of the deceased's estate.