Everett Delivers to Neely Nonconforming Goods

question 63

Essay

Everett delivers to Neely nonconforming goods.Neely accepts the goods, but upon discovering that they are defective, he rightfully revokes acceptance by timely notice to Everett.Discuss which party bears the risk of loss if the goods are then destroyed through no fault of either Everett or Neely.

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Definitions:

Characteristics

Fundamental attributes or properties that define or distinguish an entity or concept.

Chartered Banks

Financial institutions granted a charter giving them the right to operate and offer banking services to the public.

Working Capital

The discrepancy between an organization's immediate assets and its short-term obligations, showcasing the business's operational productivity and liquidity over the short term.