If the goods that are the subject of a sale are in the possession of a bailee and are to be delivered without being moved, when does the risk of loss pass to the buyer?
a. At such time as the contract of sale was entered.
b. At such time as the buyer receives the negotiable document of title.
c. When the seller tenders a nonnegotiable document of title to the bailee.
d. When the bailee is orally notified of the sale.
b
You might also like to view...
Mary used her savings to buy gold coins while Jane bought paintings. George invested his savings in a bank while Tom bought treasury bills from the U.S. government. Who among the following is using direct finance?
A. Mary B. Jane C. George D. Tom
What is a similarity between a branch office and a subsidiary of a multinational corporation?
A) Both are considered separate legal entities. B) Both have limited liability shields with the parent company. C) Both can be setup in a foreign land to run the parent company's business. D) Both are wholly liable for their torts.
Pricing may influence demand if customers are price sensitive
Indicate whether the statement is true or false.
Answer the following: a. What is negotiation? How does one become a "holder" of an instrument? b. What is the difference between "transfer" and "negotiation"? Explain