If Goods Are Sold and Delivered to Buyer with an Option

question 11

True/False

If goods are sold and delivered to buyer with an option to return them, the risk is on the buyer until they are returned.

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Definitions:

Ultramares Rule

A legal doctrine determining the liability of accountants for negligence to third parties who rely on their financial reports.

Work Product

Documents, materials, or information prepared in anticipation of litigation, protected from discovery by opposing counsel.

Limited Class

A category with restrictions in terms of the number or type of members it can include, often used in legal contexts or when issuing securities.

Fraud Detector

A system or process designed to identify fraudulent activities or transactions.