The right to retain possession of goods until the contract price is paid is referred to as
a promise
ultra vires
a breach
a lien
Correct answer is D
Lien; is a right to keep possession of property belonging to another person until a debt owed by that person is discharged.
performance
frustration
an agreement
breach
Correct answer is D
If one of the parties to a contract breaches an obligation which the contract imposes, that party is in breach of contract. one party's failure to fulfill any of its contractual obligations is known as a "breach" of the contract.
An agent employed to sell goods delivered to him by the principal is referred to as a
special agent
del credere agent
factor
universal agent
Correct answer is C
A factor is a type of trader / agent who receives and sells goods on commission (called factorage). A factor is a mercantile fiduciary transacting business in his own name and not disclosing his principal.
A contract that is acknowledged before the law court is referred to as
informal contract
formal contract
contract of records
specialty contract
Correct answer is C
A contract of record is one which has been declared and adjudicated by a court having jurisdiction, or which is entered of record in obedience to, or in carrying out, the judgments of a court.
The breaking down of a market into separate and identifiable elements is known as
differentiation
segmentation
skimming
penetration
Correct answer is B
Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics.