Which of the Following Is True of a Destination Contract

question 55

Multiple Choice

Which of the following is true of a destination contract containing a "no-arrival, no-sale" clause?

• A) The seller is required to bear the expense and risk during transportation.
• B) The seller is required to replace any goods lost in transit.
• C) The buyer does not have to pay for destroyed goods.
• D) The risk of loss passes once the shipping has been arranged.

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Definitions:

Tax Rates

The percentage at which an individual or corporation is taxed, which can vary depending on income level, type of good or service, and other factors.

Laffer Curve

An economic theory suggesting there exists an optimal tax rate that maximizes government revenue without discouraging people from working or investing.

Tax Rate

The percentage at which an individual or corporation is taxed.

Tax Receipts

The revenue collected by the government through all forms of taxes, such as income tax, corporate tax, and sales tax.