A contract between Kwik Import Company in Los Angeles and Macro Retail Corporation in New York does not expressly state which party bears the risk of loss but says only that Kwik is "to ship goods at the seller's expense." At what point does the risk of loss of the goods pass from the seller to the buyer?
What will be an ideal response?
All contracts are assumed to be shipment contracts unless they state otherwise. Thus, in this question, the risk of loss passes when Kwik (the seller) puts the goods into a carrier's hands. This is the same result as if delivery were expressly stated to be "F.O.B. Los Angeles." For the risk of loss to remain with a seller beyond this point, the seller must expressly agree, for example, to deliver goods to a particular destination. Thus, if delivery were "F.O.B. New York," the risk would pass when the goods would arrive in New York.
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A. Debit Accounts Receivable, $3000; credit Legal Fees Revenue, $3000. B. Debit Cash, $3000; credit Accounts Receivable, $3000. C. Debit Accounts Receivable, $3000; credit Unearned Legal Fees Revenue, $3000. D. Debit Cash, $3000; credit Unearned Legal Fees Revenue, $3000. E. Debit Legal Fees Revenue, $3000; credit Accounts Receivable, $3000.
Product availability plays a major role in the purchase stage. If the highest-ranked product is unavailable, the consumer will most likely purchase the brand ranked second.
Answer the following statement true (T) or false (F)
An e-contract must meet basic requirements that are different from those required of a paper contract
Indicate whether the statement is true or false
Which of the following will cause the maximum damage to an organization's legitimacy?
A. Having people in the organization that customers know and respect B. Directing customer calls to answering machine or voice mail C. Promoting knowledge about the organization to customers D. Partnering with reputed businesses