COMMERCIAL PRACTICE - Introduction - SGA CONTRACTS Flashcards
1
Q
What do key terms in a sale for goods contract deal with? (5)
A
Price and payment, delivery, title and risk, description of the goods and quality of the goods.
2
Q
Which section of the contract do provisions regarding delivery, title and risk, the quality of goods and description of goods sit? (1
A
Performance obligations.
3
Q
What must be taken into account when calculating profit that a business makes? (2)
A
The cost that is attributable to the production by the business of the goods that it sells, which may include the amount needed to purchase the materials which the goods are made and labour costs.
