Asked by Radhika Singh on Jul 19, 2024
Verified
Goods are being sold by Anne in Seattle and shipped by ABC Railroad to Brian in Portland,Oregon.In this situation,the term "FOB Seattle" means that the risk of loss passes from the seller to the buyer when:
A) the goods are identified in Seattle.
B) the goods are placed at the seller's warehouse loading dock in Seattle.
C) the goods are delivered to ABC Railroad in Seattle.
D) the goods leave the city limits of Seattle.
FOB Seattle
A shipping term indicating that the seller's responsibility ends when the goods are placed on board a ship at the Seattle port; the buyer is responsible for freight and risks from that point.
Risk Of Loss
Refers to the legal responsibility regarding who bears the financial burden if goods are damaged or lost during a transaction.
- Pinpoint the parties tasked with assuming the risk of loss across various sale and shipment contexts.
Verified Answer
SP
stephanie petithommeJul 21, 2024
Final Answer :
C
Explanation :
The term "FOB Seattle" clearly indicates that the goods are at the buyer's risk only when they are delivered to their destination.
Learning Objectives
- Pinpoint the parties tasked with assuming the risk of loss across various sale and shipment contexts.