Which of the Following Is the Best Description of 'Specific

question 36

Multiple Choice

Which of the following is the best description of 'specific' or 'existing' goods?

• A)Goods that are defined by description only,such as 'A bag of apples.'
• B)Goods identified and agreed upon at the time of sale,such as 'This apple.'
• C)Goods to be manufactured or acquired by the seller after the time of sale,such as 'Your next crop of apples.'
• D)Goods which were previously unascertained but have now been identified and agreed upon by the parties,such as 'I accept your selection of apples in this bag.'

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Definitions:

Inventory

The total amount of goods and materials held by a business for the purpose of sale or production.

Debtor's Rights

Legal rights and protections afforded to individuals or entities that owe money, guarding against unfair treatment and abuses by creditors.

Article 9

A section of the Uniform Commercial Code in the United States that governs secured transactions involving personal property.

UCC

The Uniform Commercial Code, a set of laws governing sales and commercial transactions in the United States.