When the Manager of a Department Store Attaches Price Tags

question 287

Multiple Choice

When the manager of a department store attaches price tags to his/her products, he/she is using money as a

• A) medium of exchange.
• B) store of value.
• C) unit of transfer.
• D) unit of account.

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Definitions:

Negotiable Document

A written instrument, such as a bill of exchange, promissory note, or check, that guarantees payment of a specific amount of money and is transferable among different parties.

Goods-in-bailment

Items that are temporarily delivered to someone (the bailee) for custody or storage, without transfer of ownership.

Deliver to Order

A stipulation in shipping where goods are delivered to a specific party as per the instructions of the shipping document or bill of lading.

Innocent Purchaser

A legal term for someone who buys property without knowledge of any existing claims, disputes, or flaws affecting the property's title.