Because the Contract Was Ambiguous About Whether the Seller Had

question 69

Multiple Choice

Because the contract was ambiguous about whether the seller had the duty to deliver the goods to either the common carrier's hands or all the way to Ivan's home,what type of contract is presumed?

• A)Voidable
• B)Transit
• C)Location
• D)Origin
• E)Destination

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Definitions:

Carrying Value

Carrying value, also known as book value, is the value of an asset as reflected in an entity's accounting records, minus any depreciation, amortization, or impairment costs.

Bond Payable

A form of long-term debt issued by corporations, governments, or other entities to investors with a promise to pay a specified sum of money at a future date.

Par Value

The face value of a bond or stock as stated by the issuing company, which may differ from its market value.

Semiannually

Occurring twice a year, typically every six months, often used in the context of payments, evaluations, or reporting.