Asked by fatima khreis on May 14, 2024
Verified
Mark, a college student, agreed to sell his horse to Henry for $1,000. The contract required Mark to take the horse on that same day to Idlewild Stables where Henry was going to board the horse. Henry paid Mark the money, patted the horse and said, "I'm glad you're mine, you beauty," and drove off. Mark then led the horse into the trailer and set off for the two-hour drive to Idlewild. Has there been a sale?
A) No, not until delivery to Idlewild.
B) No, not until Henry sees the horse again.
C) Yes, since Henry already paid for it.
D) Yes, since the contract was made earlier in the day.
Delivery
The act of transferring possession of a good or document from one party to another, fulfilling a contractual obligation.
- Acquire knowledge on the legal implications of contracts and the modes of transferring title, possession, and risk of loss.
Verified Answer
MK
Morgan KraskaMay 19, 2024
Final Answer :
A
Explanation :
According to the contract, Mark is required to deliver the horse to Idlewild Stables on the same day. Until the horse is delivered to its destination, the sale is not considered complete.
Learning Objectives
- Acquire knowledge on the legal implications of contracts and the modes of transferring title, possession, and risk of loss.