Discounts
This type of discount is given when a designer purchases a large quantity of products at one time.
What is quantity discount?
This is the tax on the selling of merchandise.
What is sales tax?
When things like quantity, payment, and price are omitted from an order they are referred to as these.
What is open terms?
The UCC stands for this.
What is Uniform Commercial Code?
This is any item that is tangible, has physical existence, or can be moved.
What is a good?
Another term for the full discount price, which is the cost designers pay after receiving a discount.
What is net price?
You (the client) purchase a couch and have it brought and placed in your house. This is the service you are paying for.
What is delivery?
If a location is not specified, deliveries are customarily made to this location.
What is the sellers business location.
The UCC is made up of what?
What is a uniform set of regulations concerning the law of sales?
You purchased a wall covering and installed it on one of the walls in your home. The tangible personal property is now this.
What is fixture
This common code word in pricing means a 50% discount or a price that is double the wholesale price.
What is keystone?
This is a prepayment for services or advice?
What is a retainer?
If this is missing, the other party can cancel the offeror determine a "reasonable" price.
What is the price?
______ Are able to interperate the UCC based off of individual legislative needs.
What is states?
This term is commonly used by designers to refer to the price at which they sell goods to the client.
What is selling price?
A manufacturer tells a designer, "your discount is 5/10." This means the designer should take this amount off the dollar portion of the price.
What is $5.00
For this type of prepayment, you (the client) pay 50% of the total purchase price of all goods ordered.
What is deposit?
According to the UCC, a contract is formed only if all terms of the offer exactly match the acceptance. Any differences constitute this.
What is a counter offer?
This describes a good that was delivered to a buyer that was not agreed upon in the sales order?
What is a non-conforming good?
When the seller knows the intended purposes of the good, and the buyer must rely on sellers knowledge.
What is implied warranty of fitness for a particular purpose?
Manufacturers and suppliers offer this type of discount to designers who pay their bills promptly.
What is a cash discount?
In this form of FOB, the buyer is responsible for any cost to put the good on the transportation vehicle.
What is FOB, factory?
A designer generally has a maximum of this many days to correct any errors in an order agreement.
What is 10 days?
The specific requirement for which certain types of contracts must be written in order to be enforceable.
What is the statute of frauds?
A well thought out sales agreement helps to avoid issues with what?
What is cancellations and change of order?