Drew Contracts for a Sale of Tools to Engineering Company

question 58

Multiple Choice

Drew contracts for a sale of tools to Engineering Company (EC) .If the tools fail to conform to the contract,EC

• A)may accept or reject the shipment in part or in whole.
• B)must accept the shipment.
• C)must reject the shipment.
• D)must renegotiate the contract.

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Definitions:

Closing

A meeting attended by a buyer, seller, attorneys, and a representative of a lending institution for the official sale of a property.

Semimonthly

Refers to something happening twice a month or every half month, typically resulting in 24 occurrences in a year.

Paychecks

Regular payments made by employers to employees for the work they have performed, often on a weekly or bi-weekly basis.

Finance Charge

A fee charged for the use of credit or the extension of existing credit, often expressed as an annual percentage rate.