Free alongside ship (FAS) named port is the Incoterm for a transaction in which the seller places the shipment alongside the vessel upon which the goods will be transported out of the country

Lance writes Martin a check drawn on Lincoln Bank. Martin presents the check for payment at Lincoln Bank in a timely and proper manner. Lincoln refuses to pay. As a legal matter:

a. Martin has become secondarily liable on the check. b. Martin has dishonored the check. c. Lincoln has warranted the check. d. Lincoln has dishonored the check.

If a bond is sold at a discount, Bonds Payable, Net ________.

a. decreases each year b. increases each year c. stays the same each year d. changes every year as the market rate of interest changes