The term "FOB shipping point" indicates that the seller is responsible for transportation costs.
Answer the following statement true (T) or false (F)
False
FOB shipping point indicates that the buyer, not the seller, is responsible for transportation costs.
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Contrast the following types of bonds:(a) Secured and unsecured.(b) Term and serial.(c) Callable and convertible.
What will be an ideal response?
Equitable remedies result in monetary awards to the plaintiff
Indicate whether the statement is true or false
"I accept your offer, but I must have you cover closing costs," is an example of a counteroffer
Indicate whether the statement is true or false
Transfer of Instruments. In July 1988, Chester Crow executed a promissory note payable "to the order of THE FIRST NATIONAL BANK OF SHREVEPORT or BEARER" in the amount of $21,578.42 at an interest rate of 3 percent per year above the "prime rate in
effect at The First National Bank of Shreveport" in Shreveport, Louisiana, until paid. The note was a standard preprinted promissory note. In 1999, Credit Recoveries, Inc, filed a suit in a Louisiana state court against Crow, alleging that he owed $7,222.57 on the note, plus interest. Crow responded that the debt represented by the note had been canceled by the bank in September 1994, contending that, in any event, to collect on the note Credit Recoveries had to prove its legitimate ownership of it. When no evidence of ownership was forthcoming, Crow filed a motion to dismiss the suit. Is the note an order instrument or a bearer instrument? How might it have been transferred to Credit Recoveries? With this in mind, should the court dismiss the suit on the basis of Crow's contention?