What type of agreement do contracting parties have when the sale itself is contingent on approval?
A)A transferable contract
B)An executed contract
C)An implied-in-law contract
D)A conditional sales contract
E)A consignment contract

Question

Quizplus · Accepted Answer

A sale-on-approval contract is a type of conditional sales contract.A sale-on-approval contract allows the buyer to take possession of the goods before deciding whether to complete the contract by making the purchase.Title and risk of loss remain with the seller until the buyer notifies the seller about the approval of the contract.

What Type of Agreement Do Contracting Parties Have When the Sale