Question

In: Operations Management

Which of the following is true of a shipment contract? The seller must put the goods...

Which of the following is true of a shipment contract?

The seller must put the goods in the possession of the carrier.

The seller must tender the delivery of goods to the buyer.

The seller offers to turn the goods to the buyer, and the buyer offers to pay for them.

The seller tenders the delivery of goods to the carrier, along with the document title.

Solutions

Expert Solution

The seller must put the goods in the possession of the carrier.

A shipment contracts authorizes the seller to ship the goods by a carrier, instead of making a delivery at a particular destination. Seller is required to put the goods into the hands of the carrier, make a reasonable transportation contract, tender to the buyer necessary documents to enable the buyer to obtain possession of goods from the carrier and promptly notify the buyer that the shipment has been made. This is as per UCC 2-504


Related Solutions

Buyer and seller of goods enter into a shipment contract for delivery of the goods by carrier to the buyer.
Buyer and seller of goods enter into a shipment contract for delivery of the goods by carrier to the buyer. Title of these goods passes to the buyer when the (a) seller hands over the goods to the carrier (b) buyer takes the actual delivery of the goods (c) buyer receives a receipt for the goods (d) all of the above
Which of the following statements is true? a. The seller of a futures contract is said...
Which of the following statements is true? a. The seller of a futures contract is said to be short futures. b. The buyer of a futures contract is said to be long futures. c. The seller of a futures contract is said to be long futures. d. The buyer of a futures contract is said to be short futures. e. Choices a and b
A shipment contract requires all but which of the following in order to be designated a shipment contract?
1. A shipment contract requires all but which of the following in order to be designated a shipment contract? Multiple Choice Title will pass to the buyer at the time and place of shipment. The seller must ship the goods to the buyer. Title remains with the seller until the goods are delivered to their destination. The seller must use a common carrier to ship the goods to the buyer. 2. All but which of the following items is treated...
Which of the following statements is true of the transfer of interests in a goods-in-bailment contract?...
Which of the following statements is true of the transfer of interests in a goods-in-bailment contract? Multiple Choice Title of goods passes from the seller to the buyer when a document of title is endorsed or signed over to the buyer. Only the buyer can buy insurance on the goods because the seller cannot transfer physical possession of the goods. If the document of title is negotiable, the risk passes to the buyer on notification and acknowledgment by the custodian...
Which of the following is NOT a term used to describe the seller in a contract?...
Which of the following is NOT a term used to describe the seller in a contract? a. Vendor b. Dealer c. Service provider d. Contractor A project manager wants to know every detail form her team members. She reviews every document. She also manages details such as when a project team member is taking a break from the work day. Which of the following theories fits her management style? a. Theory Z b. Theory Y c. Theory X d. Maslow's...
In a shipment contract, when does title and risk of loss pass from Seller to Buyer:...
In a shipment contract, when does title and risk of loss pass from Seller to Buyer: a) If the terms was FOB Shipping Point? b) If the shipment term was FOB Destination?
1. Seller enters into a shipment contract with Buyer. When is delivery completed? When Buyer receives...
1. Seller enters into a shipment contract with Buyer. When is delivery completed? When Buyer receives the shipment When Seller hands over the shipment to Carrier When shipment receives delivery destination selected by Buyer When the Seller notifies the Buyer that the shipment is in transit 2. According to the going and coming rule, what is the liability of the principle for injuries caused by its agents and employees while they are on their way to or from work? Complete...
The moment the contract goods are identified by the lessor or seller, the lessee or buyer...
The moment the contract goods are identified by the lessor or seller, the lessee or buyer has a property interest in the goods, and therefore an insurable interest.             a. This statement is true.             b. This statement is false.
a) Buyer A has entered into a contract for the sale of goods with Seller B....
a) Buyer A has entered into a contract for the sale of goods with Seller B. Seller B has delivered nonconforming goods but has promised to cure the defects. After three months of waiting, Seller B has not cured the defect. What remedy does Buyer A have?   b) Buyer A has entered into a contract for the sale of goods with Seller B. Buyer A has breached the contract while the goods are in transit. What remedy does Seller B...
a)   Buyer A has entered into a contract for the sale of goods with Seller B....
a)   Buyer A has entered into a contract for the sale of goods with Seller B. The contract provides that Seller B will deliver the goods on May 1, 2010. On May 1, 2010, Seller B informs A that it will not be able to perform the contract. Assume Buyer A was going to pay $3,000 for the goods under the contract with Seller B. Seller C will sell Buyer A the goods for $4,000 plus a transportation cost of...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT