Jonathan Sells Crates of Tomatoes on Board the SS Apapa

question 33

Multiple Choice

Jonathan sells crates of tomatoes on board the SS Apapa to Margaret. At the time of the sale, both parties are unaware that the crates were washed overboard. What is the status of the contract between Jonathan and Margaret.

• A) Margaret may sue Jonathan for the tort of deceit.
• B) Margaret is the new owner of the tomatoes and has to bear the loss.
• C) Jonathan is still the owner of the shipment. Jonathan bears the loss and will have to refund Margaret's money.
• D) The ownership passed to Margaret, but Jonathan is still in possession and so he is liable.
• E) Margaret has to pay the agreed price and recover from her insurance.

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Definitions:

International Value

The worth of a product or service recognized across different countries, taking into account exchange rates and global demand.

Price Support

Government or regulatory interventions to maintain the price of a commodity at a certain level to protect producers from market fluctuations.

Gross Farm Incomes

The total revenue produced from farming activities before deducting any expenses.

Agricultural Products

Goods produced through farming and agriculture, including crops, livestock, and other raw materials used for food, fuel, and other purposes.