Rayco Entered into a Contract to Buy Chia Pets from We

question 17

Essay

Rayco entered into a contract to buy Chia Pets from We Grow 'Em.The contract specified that the shipment would be "F.O.B.destination; title to pass on the date of shipment." The goods were destroyed in transit to Rayco.Rayco argues that the loss is We Grow 'Em's.Analyze the situation and determine who is liable for the loss.

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Definitions:

Limit Order

An order specifying a price at which an investor is willing to buy or sell a security.

NASDAQ Subscriber Levels

Refers to the classification of traders and investors by the NASDAQ based on their access to market data and trading services, impacting fees and data accessibility.

Make a Market

An action by a dealer or broker to provide liquidity for a particular asset by offering to buy or sell it at publicly quoted prices.

OTC Stocks

Stocks traded over-the-counter rather than on a centralized exchange, often involving smaller, less liquid securities.