What Was the Result in the Peerless Case Discussed in the Text

question 26

Multiple Choice

What was the result in the Peerless case discussed in the text in which there were two ships named Peerless and the parties disagreed over which ship was the subject of the contract?

• A)The court ruled that the defendant would be allowed to choose which ship would be identified to the contract.
• B)The court ruled that the plaintiff would be allowed to choose which ship would be identified to the contract.
• C)The court rescinded the contract.
• D)The court ruled that the older ship would be identified to the contract.
• E)The court ruled that the newer ship would be identified to the contract.

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Definitions:

Exchange Rate

The conversion rate from one currency to another.

Imports

Merchandise or services entering a nation from a foreign country, intended for sale or application.

Exports

Exports refer to goods or services sent from one country to another for sale or trade, contributing to a nation's gross domestic product.

Trade Deficit

An economic measure of a negative balance of trade where a country's imports exceed its exports over a given period.