If the Terms of Purchase Are FOB Shipping Point,title to the Goods

question 29

Multiple Choice

If the terms of purchase are FOB shipping point,title to the goods passes from the vendor to the buyer ________.

• A)when the merchandise leaves the vendor's warehouse
• B)halfway between the vendor's warehouse and the buyer's warehouse
• C)when the merchandise reaches the buyer's warehouse
• D)when the merchandise is sold to the end user

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Definitions:

Intended Beneficiary

A person or entity that is specifically designated to benefit from a contract, even though they are not a direct party to that contract.

Reasonable Person

A legal standard used to determine how an average person would responsibly act under certain circumstances for the purposes of establishing negligence in civil law.

Rights

Privileges or entitlements granted by law, custom, or agreement to individuals or groups, allowing them to perform certain actions or to be treated in a specific way.

Contracting Parties

Individuals, companies, or entities that enter into a contract and are bound by its terms.