Asked by Jaelyn Collins on Jun 17, 2024
Verified
For which of the following sale contracts does title and risk of loss remain with the seller until the buyer accepts the goods?
A) A sale on approval
B) A sale or return
C) A bulk sale
D) A sale labeled as "FAS"
Sale On Approval
A conditional sale that is to become final only in case the buyer, after a trial, approves or is satisfied with the article sold.
Risk Of Loss
The responsibility for the financial impact of damage, destruction, or disappearance of goods or property, assigned by law or by contract.
- Understand the conveyance of ownership and liability for damage in diverse contract situations.
Verified Answer
DM
Daniel MedinJun 21, 2024
Final Answer :
A
Explanation :
In a sale on approval the buyer is given the opportunity to examine or try the goods so as to decide whether to accept them.Risk of loss and title to the goods do not pass to the buyer until the buyer accepts the goods.
Learning Objectives
- Understand the conveyance of ownership and liability for damage in diverse contract situations.