When There Is Not a Breach of the Sales Contract,who

question 26

Multiple Choice

When there is not a breach of the sales contract,who bears the risk of loss in noncarrier cases?

• A) the buyer bears the risk of loss
• B) the seller bears the risk of loss
• C) the merchant-seller bears the risk of loss, but not the non-merchant seller
• D) the merchant-buyer bears the risk of loss, but not the non-merchant buyer
• E) both the seller and buyer bear the risk of loss equally

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Definitions:

Liquidated Damages

An amount, stipulated in the contract, that the parties to a contract believe to be a reasonable estimation of the damages that will occur in the event of a breach.

Remedy

The means by which the enforcement of a right or the redress of a wrong is obtained.

Breach Of Contract

Occurs when one party fails to fulfill their obligations under a contract, leading to legal consequences for the defaulting party.

Contract Price

The total financial compensation agreed upon by all parties involved in a contract for the sale, purchase, or delivery of goods or services.