Asked by Samantha Matias on May 22, 2024
Verified
If the seller is not a merchant,the risk of loss passes to the buyer when the seller tenders the goods to the carrier.
Risk of Loss
Risk of loss refers to the legal and financial responsibility for the damage, destruction, or loss of property, often determined by the terms of a contract.
Merchant
An individual or company engaged in the wholesale or retail sale of goods, services, or commodities for profit.
Carrier
In telecommunications, an entity that provides services for transmitting data and communications; in transportation, a company responsible for transporting goods or passengers.
- Gain insight into how risk of loss is conveyed in a commerce transaction.
Verified Answer
NS
Nicole Smith-FarinaMay 22, 2024
Final Answer :
False
Explanation :
In a transaction where the seller is not a merchant, the risk of loss passes to the buyer upon the buyer taking possession of the goods, not when the seller tenders the goods to the carrier.
Learning Objectives
- Gain insight into how risk of loss is conveyed in a commerce transaction.