Asked by Matthew Eskender on May 25, 2024
Verified
The goods required for the performance of a contract are destroyed without fault of either party prior to the time that the risk of loss passed to the buyer.In this case,
A) the contract cannot be cancelled.
B) the contract is voided.
C) the seller will not be excused.
D) the seller has to make good for the loss.
Risk of Loss
denotes the possibility that an asset or investment's value will decrease, reflecting the chance of losing on an investment or possession.
Contract Voided
A legal declaration that a contract is null and void and, therefore, unenforceable as though it never existed.
- Identify the instances in which contractual responsibilities can be waived owing to impracticability or impossibility.
Verified Answer
EC
Erika CardosoMay 27, 2024
Final Answer :
B
Explanation :
If the goods required for the performance of a contract are destroyed without fault of either party prior to the time that the risk of loss passed to the buyer,the contract is voided.
Learning Objectives
- Identify the instances in which contractual responsibilities can be waived owing to impracticability or impossibility.