1. Gaston is on the phone with the shipper of natural gas debating a missed ship
ID: 427444 • Letter: 1
Question
1. Gaston is on the phone with the shipper of natural gas debating a missed shipment. Apparently there was a storm at sea and the ship nearly capsized. In the storm, all of the natural gas containers fell overboard and the ship arrived at the Port of Freeport intact, but without the product expected. Gaston isn't worried though because
he purchased hull insurance prior to ordering the natural gas.
he purchased a force majeure clause policy from a reputable insurer prior to shipment.
he knows a few longshoremen who are also in the music business and know how to tune up the captain of the vessel.
d. he purchased cargo insurance and business interruption insurance prior to shipment.
2. The UCC and CISG have similar original objectives.
True
False
3. Yvette is reviewing her company's monthly financials and sees that two of her strategic directors, Huda and Doug, have spent more than any other directors on warehousing for the past month. Huda and Doug have also outspent the other directors in the acquisition of certain heavy-duty tools and pressure vessels. This is a dramatic increase in expenditures for the company. Yvette calls Huda and Doug to her office and thanks them. Why?
Any two directors bold enough to spend company money at that pace deserve to be congratulated.
It is always an effective strategy to stockpile tools and equipment.
Warehousing goods may be smarter than simply entering into a contract for future delivery if prices are expected to dramatically increase in the next few months. A supplier might breach if the cost to honor the contract exceeded the profit of breaching to sell to another company.
Possibly the tools and pressure vessels are made of steel, and the past month saw probable increases in steel prices if a tariff was imposed. A stockpile might offset any increases in steel importation costs.
a.he purchased hull insurance prior to ordering the natural gas.
b.he purchased a force majeure clause policy from a reputable insurer prior to shipment.
c.he knows a few longshoremen who are also in the music business and know how to tune up the captain of the vessel.
d. he purchased cargo insurance and business interruption insurance prior to shipment.
2. The UCC and CISG have similar original objectives.
True
False
3. Yvette is reviewing her company's monthly financials and sees that two of her strategic directors, Huda and Doug, have spent more than any other directors on warehousing for the past month. Huda and Doug have also outspent the other directors in the acquisition of certain heavy-duty tools and pressure vessels. This is a dramatic increase in expenditures for the company. Yvette calls Huda and Doug to her office and thanks them. Why?
a.Any two directors bold enough to spend company money at that pace deserve to be congratulated.
b.It is always an effective strategy to stockpile tools and equipment.
c.Warehousing goods may be smarter than simply entering into a contract for future delivery if prices are expected to dramatically increase in the next few months. A supplier might breach if the cost to honor the contract exceeded the profit of breaching to sell to another company.
d.Possibly the tools and pressure vessels are made of steel, and the past month saw probable increases in steel prices if a tariff was imposed. A stockpile might offset any increases in steel importation costs.
Explanation / Answer
Question:- 1. Gaston is on the phone with the shipper of natural gas debating a missed shipment. Apparently there was a storm at sea and the ship nearly capsized. In the storm, all of the natural gas containers fell overboard and the ship arrived at the Port of Freeport intact, but without the product expected. Gaston isn't worried though because
Answer:- d. he purchased cargo insurance and business interruption insurance prior to shipment.
Question:-
The UCC and CISG have similar original objectives.
False
Question:- 3. Yvette is reviewing her company's monthly financials and sees that two of her strategic directors, Huda and Doug, have spent more than any other directors on warehousing for the past month. Huda and Doug have also outspent the other directors in the acquisition of certain heavy-duty tools and pressure vessels. This is a dramatic increase in expenditures for the company. Yvette calls Huda and Doug to her office and thanks them. Why?
Answer:- Warehousing goods may be smarter than simply entering into a contract for future delivery if prices are expected to dramatically increase in the next few months. A supplier might breach if the cost to honor the contract exceeded the profit of breaching to sell to another company.
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