Fact Pattern 16-B1 (Questions B18-B19 Apply)

question 11

Multiple Choice

Fact Pattern 16-B1 (Questions B18-B19 apply)
Alain and Brie sign a contract for the sale of Alain's Coffee Café to Brie.The parties intend their written contract to be a final statement of most,but not all,of the terms of their agreement-Alain must first buy the building from Developed Commercial Properties,Inc.,after which Alain and Brie will negotiate a price.
-Refer to Fact Pattern 16-B1.The writing that Alain and Brie signed is

• A)a completely integrated contract.
• B)a conditionally integrated contract.
• C)a partially integrated contract.
• D)a supplemental integrated contract.

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Definitions:

Merchandise

Goods bought and sold in the course of business operations.

Periodic Inventory System

An accounting system that records inventory purchases during the accounting period but waits until the end of the period to adjust the inventory balances and record cost of goods sold.

Gross Method

An accounting practice for recording the full invoice amount of a sale without deducting any discounts offered.

Merchandise Return

The process by which a customer returns previously purchased merchandise back to the seller, often due to defects or dissatisfaction.