Observation

Most candidates who attempted the question could not properly differentiate these terms. They could not list the content of the contract of sale.

The expected responses to the question include:

     (a)      Differences between the following discounts

1. Cash discount and seasonal discount

Cash discount is a reduction in amount to encourage buyers to pay promptly while seasonal discount is given to encourage buyers to stock up a particular product during a particular season.                                                          

2. Quantity discount and trade discount

Quantity discount is a reduction in price given to encourage customers to purchase more goods while trade discount is offered to allow buyers to make profit.

(b)         Features of a shopping mall

1. It has shops on many floors.
2. It sells branded and unbranded products.
3. It is located in highly commercial places.
4. It has exceptional designs which attract shoppers.
5. It has parking facilities.
6. It has a safe and secured environment.
7. It has large floor space to enhance movement by shop attendants and customers.
8. It has recreational and entertainment facilities.

(c)      Items that must be contained in a contract of sale

1. Type of product
2. Quantity to be sold.
3. Price of the product.
4. Payment period.
5. Guaranty or warranty (if any).
6. Delivery terms.
7. Parties to the contract.