A Contract in Which Title and Risk of Loss Remain

question 43

Multiple Choice

A contract in which title and risk of loss remain with the seller and that provides for the sale subject to the buyer's final decision is a(n) :

• A) endorsement of contract.
• B) sale on approval.
• C) contract to sell.
• D) FOB contract.

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Definitions:

Amusement Park

A large outdoor area with rides, games, and entertainment attractions designed for recreational enjoyment.

Auto Repair Garage

A facility that provides maintenance and repair services for vehicles, including mechanical and electrical repairs.

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The expenses associated with holding and storing unsold goods, including insurance, storage, depreciation, and obsolescence.

Merrill Lynch

A well-known wealth management and investment firm that provides financial advice, investment banking, and other financial services.