Sara visited Ben's, a famous designer jewelry store, to buy herself a necklace. She browsed through the store's product catalogu
e and chose a particular model of diamond necklace. After she chose it, the manager at Ben's sent an order to the manufacturer to make the necklace. Which of the following statements is true at this point in the scenario? A) The necklace is an identified good.
B) Ben's holds the title to the diamond necklace.
C) Only a contract to sell has been made between Sara and Ben's.
D)The title to the necklace will pass to Sara as soon as the necklace is made.
A Contract to Sell is simply an agreement between a seller and a buyer. This contract shows that the seller has promised to sell a commodity to the buyer at a set price and the buyer has also promised the seller that he/she will buy the commodity at the set price.
After signing the contract, ownership of the commodity is not immediately transferred to the buyer because payment has not been made.
If the buyer should default in payment, the seller has the right to withhold the commodity.
In the scenario offered above, we can see that Sara is yet to pay for the necklace, therefore, it is only a contract to sell that exists between Sara and the Manager.
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As the natural selection is the differential survival of the individual due to the selection of the individual's due to the difference in the phenotypes and is a key mechanism to the evolution as its characterized by the inherent traits of a population over time as the variation exists in all species of organisms and is contrasted to the artificial selection.
In an open listing, the seller of the house has two or more brokers trying to complete the transaction, and only the broker who manages to sell the property receives a commission.
Patsy has an open listing because 1) she has two brokers competing for selling the house 2) she will only pay a commission to the broker who completes the transaction successfully.
