Which of the Following Is NOT True About Forfeiting

question 60

Multiple Choice

Which of the following is NOT true about forfeiting?

• A) The exporter is responsible for the quality of delivered goods.
• B) Exporter receives an unconditional cash payment at the time of the transaction.
• C) The exporter sells bank-guaranteed promissory notes at its face value.
• D) The political and commercial risk is carried by the guaranteeing bank.

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Definitions:

Internal Improvements

Historical term referring to public works projects in the United States, such as roads, canals, and railroads, aimed at developing the nation's infrastructure.

Clinton's Big Ditch

A colloquial term for the Erie Canal, significantly funded and championed by New York Governor DeWitt Clinton in the early 19th century, enhancing trade and westward expansion.

Erie Canal

A historic 363-mile waterway in New York that connects the Atlantic Ocean to the Great Lakes, greatly enhancing trade and transportation in the early 19th century.

Industrial Revolution

A period of major industrialization during the 18th and 19th centuries that transformed predominantly agrarian societies into industrialized and urban ones.