Asked by William Burgan on May 26, 2024
Verified
According to the Uniform Commercial Code,in transit means that the seller has delivered the goods to a carrier,and the carrier has turned the goods over to the buyer.
In Transit
The status of goods or people being transported from one place to another; during the journey.
Carrier
A company or individual responsible for the transportation of goods or people.
- Understand the importance of titles, risk, and insurable interest clauses within the Uniform Commercial Code.
Verified Answer
JP
Jonathan PriceMay 29, 2024
Final Answer :
False
Explanation :
In transit means that the seller has delivered the goods to a carrier or bailee,but the carrier or bailee has not yet turned them over to the buyer.
Learning Objectives
- Understand the importance of titles, risk, and insurable interest clauses within the Uniform Commercial Code.
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