BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS LAW

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Casual sellers and merchants are the same.
A
True
B
False
Explanation: 

Detailed explanation-1: -A merchant is a person engaged in the purchase and sale of commodities, especially on international markets. So, both purchasing and selling are related to a merchant who can be called a trader. On the other hand, a seller is a person who only sells article. A seller does not purchase any commodity.

Detailed explanation-2: -Terms in this set (24) How do merchants differ casual buyer in a sales situation? The UCC holds merchants to a higher standard of conduct that it does casual seller because casual sellers do not deal regularly in the type of goods being exchanged but, merchants do.

Detailed explanation-3: -A merchant is either an individual or a company that sells goods or services. The merchant will sell products for a profit and facilitate customers during their buying journey. Merchants can operate as retailers or wholesalers, and any source could sell items to another source.

Detailed explanation-4: -When parties exchange goods for goods, the sale is a barter. The Uniform Commercial Code (UCC) does not govern contracts to sell goods in the future. In both sales and contracts to sell, the seller is known as the vendee. The bill of sale serves as written evidence of the transfer of ownership of goods.

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