If the parties to a contract do not agree on payment terms,and a delivery is authorized and made by way of document of title,payment is due at the ________.
A) place where the contract was initially signed
B) time the seller dispatches the goods to the buyer
C) place where the goods are to be delivered as per the original contract
D) time and place at which the buyer receives the right of possession

Question

Quizplus · Accepted Answer

According to the Uniform Commercial Code, when the parties to a contract fail to agree on payment terms, and a delivery is authorized and made by way of document of title, payment is due at the time and place at which the buyer receives the right of possession. Therefore, option D is the most appropriate choice.

If the Parties to a Contract Do Not Agree on Payment