In domestic trade transactions, a buyer can often obtain possession of

QUESTION

In domestic trade transactions, a buyer can often obtain possession of merchandise without signing a formal document acknowledging his or her obligation to pay

Indicate whether the statement is true or false.

ANSWER

TRUE
International practice is to use drafts to settle trade transactions. This differs from domestic practice in which the buyer can often obtain possession of the merchandise without signing a formal document acknowledging his or her obligation to pay