In a CIF contract, marine insurance is purchased by:
a. the buyer.
b. the seller.
c. the carrier.
d. None of the above
b
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The trial balance assures the accuracy of all debits and credits before adjustments
Indicate whether the statement is true or false
Laura offered to sell Louis a tract of land. The offer was complete and certain as to all material terms. The offer stated that a telegraphed acceptance was required. Within a reasonable time, Louis telephoned Laura to accept. Which of the following is a true statement about this situation?
A. Louis's telephone call would be a good acceptance as this case involves a sale of goods. B. Louis has accepted because a telephone call is a reasonable means of acceptance. C. Louis has not accepted and there is no contract. D. Louis can use promissory estoppel to enforce a contract here.
A firm looking to describe the current state of the market is most likely developing a ________ ________.
Fill in the blank(s) with the appropriate word(s).
When the buyer breaches a sales contract, if the difference between the contract price and the market price will not place the seller in as good a position as performance would have, then the seller may recover the lost profit
a. True b. False Indicate whether the statement is true or false