Whistle Cabs, a Taxi Service Company, Has Been Ordered by the Traffic

question 82

Multiple Choice

Whistle Cabs, a taxi service company, has been ordered by the traffic department to update its taximeters to digital ones. Whistle Cabs decides to contract with Running Electricals, who provides digital taximeters. But to acquire it on such short notice, Whistle Cabs approaches Goldmint Bank. Goldmint Bank purchases the taximeters and delivers them to Whistle Cabs. The contract with Goldmint Bank allows the taxi service company to use the taximeters for a period of time by providing monthly rentals until that period is completed. What is the nature of the contract made between Goldmint, Whistle Cab, and Running Electricals?

• A) counteroffer
• B) lease
• C) sale of goods
• D) option contract

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Definitions:

Sales Presentations

Persuasive demonstrations or pitches made to potential clients with the goal of securing a sale, showcasing products or services and their benefits.

Product Materials

The raw materials and substances used in the manufacture of a product.

Business Lunch

A meal event typically intended for discussing business matters, networking, or fostering professional relationships, often taking place during lunch hours.

Net Profit

Money remaining after costs of marketing and operating the business are paid.