Which of the Following Is an Accurate Statement Regarding the Risk

question 10

Multiple Choice

Which of the following is an accurate statement regarding the risk of loss in a shipment contract after the seller delivers conforming goods to the carrier?

• A)The seller bears the risk of loss during transportation.
• B)The buyer bears the risk of loss during transportation.
• C)The seller and the buyer equally bear the risk of loss during transportation.
• D)The seller bears one-third of the risk of loss and the buyer bears two-thirds of the risk of loss during transportation.

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Definitions:

Third-Party Check

A check made payable to one party and then endorsed to another as a payment method.

Deposit Record

A record of a financial deposit that is given by the bank to the customer at the time of the deposit.

Endorsement

A formal declaration of support or approval.

Pin Pad

A device used in electronic transaction systems to input a personal identification number or other secure data.