Phil Entered into an Agreement with Marina Boats for the Purchase

True/False

Phil entered into an agreement with Marina Boats for the purchase of a new sailboat for $21,000. The purchase was to be on credit, subject to a favourable credit report on Phil. Marina Boats checked with Credit Reporting Company and was informed that Phil had defaulted on a number of debts, and presently had judgments in the amount of $30,000 against him. Marina Boats would be classed as an itinerant seller under the legislation of most provinces, even though it sells only from a fixed place of business. It must, therefore, be registered as such.