Asked by Steven Walsh on Apr 28, 2024
Verified
In __________ the goods are sold and delivered to the buyer with an option to return them to the seller.
A) a bailment
B) a sale on approval
C) a sale or return
D) entrusting to a merchant
Sale on Approval
A conditional sales agreement that allows the buyer to return the purchased goods if they don't meet specified requirements.
Option to Return
A contractual provision allowing a party to return a product or relinquish a service for reasons specified in the agreement.
- Discern among diverse forms of sales and their corresponding legal implications, notably between sale on approval and sale or return.
Verified Answer
ZK
Zybrea KnightMay 05, 2024
Final Answer :
C
Explanation :
A sale or return allows the buyer to sell the goods and have the option to return them to the seller if they are not able to sell them. This is different from a bailment where the goods are held by the buyer for safekeeping and not for sale, a sale on approval where the buyer has the option to approve the goods before making a final purchase, and entrusting to a merchant which involves giving the goods to a merchant to sell on behalf of the owner.
Learning Objectives
- Discern among diverse forms of sales and their corresponding legal implications, notably between sale on approval and sale or return.