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Shipment Contract
An agreement in which the seller is obligated to send goods to a buyer, but the risk of loss passes to the buyer when the goods are delivered to the carrier.
Title Passes
The point at which ownership of property is transferred from one party to another according to the terms of a contract.
Goods Arrive
The event or process where purchased or ordered products reach their destination or the buyer's location.
Fungible Goods
Goods of which any unit is identical from another and can be substituted, such as grains, fuels, or money.
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