Asked by Brandon Pimentel on Jun 28, 2024
Verified
Which of the following is a shipment contract?
A) Ex-ship.
B) F.O.B. place of shipment.
C) No arrival, no sale.
D) Express F.O.B.
Shipment Contract
A legal agreement specifying that the seller will bear the risk of loss or damage to the goods until they are delivered to the carrier.
Ex-Ship
A term from international trade indicating that the seller's responsibility ends once the goods are available for unloading from the ship at the destination port.
F.O.B.
A shipping term indicating that the seller is responsible for the cost of loading goods onto a vessel, with the buyer assuming the risk and transportation cost once onboard.
- Differentiate among the different kinds of contracts (shipment, destination) and the respective obligations of the participating parties.
Verified Answer
Learning Objectives
- Differentiate among the different kinds of contracts (shipment, destination) and the respective obligations of the participating parties.
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