Multiple choice

Selection of goods with the intention of using them in performance of the contract and with the mutual consent of the seller and the buyer is known as

  1. distribution

  2. appropriation

  3. amortization

  4. storage

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Appropriation is the process where goods are identified or selected from a larger stock with mutual consent of buyer and seller for performance of a specific contract. It essentially 'freezes' specific goods for that contract, determining when property passes and risk transfers.