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

question 71

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• A) The court rescinded the contract.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

---

Definitions:

Terms

Conditions that are agreed upon in a financial or business arrangement.

Merchandise Inventory

The total value of a company's goods that are available for sale at the end of an accounting period.

Cash

Money in the form of coins or banknotes, especially that owned by a person or organization.

Buyer Returns

Goods returned by the buyer to the seller due to defects, dissatisfaction, or other reasons, impacting the seller's revenue and inventory levels.