Examlex
Each partner is personally liable only for his/her share of the debts of the partnership.
FOB Destination
The point at which the seller pays all shipping costs and title passes on delivery.
Shipping Costs
The expenses associated with transporting goods from the seller to the buyer's location.
Title of Goods
The legal right to own, use, or sell a particular item of property, such as merchandise held for sale.
3/10 Net 30
A payment term indicating that a buyer can deduct 3% of the invoice amount if payment is made within 10 days; otherwise, the full amount is due within 30 days.
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