Question

George's Grocery orders two dozen live lobsters from Sea Food Flyers. George's is to keep the lobsters happy by keeping them in a tank following certain instructions to keep the water at the right temperature, etc. The sale is made on a trial basis and George's may return all unsold lobsters at the end of 10 days. This contract is a:
a. contract to sell future goods.
b. conditional sale.
c. sale or return.
d. e sale on approval.

Answer 1

Answer:

c. sale or return.

Explanation:

It can be said that this is a type of contract called a sale or return contract.

This can be understood as a practice where you lend your work to a storekeeper.

It usually works in the form of a contractual agreement where you company your items and receive a 60/40 or 50/50 percentage of the retail price if they are sold.

In this type of sale the buyer will be able to return the goods to the seller, so in this contract the risk of loss and the title will remain with the buyer until the goods are returned.