Briefly Explain What Happens in the Implementation Stage

question 66

Short Answer

Briefly explain what happens in the implementation stage.

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Definitions:

Tender Of Delivery

A requirement that a seller/lessor have and hold conforming goods at the disposal of the buyer/lessee and give the buyer/lessee reasonable notification to enable him or her to take delivery.

Risk Of Loss

A provision in contracts determining who bears the risk for damage to goods after purchase but before delivery.

Indemnification

A financial agreement in which one party agrees to cover the losses or damages incurred by another.

Entrustment

The transfer of goods to a merchant who ordinarily deals in that type of goods. If the merchant subsequently sells them to a good-faith third-party purchaser, the buyer acquires good title to the goods.