Examlex
While shopping at a local retail store, Jenna sees an ad for Aileen sunscreen lotion on the back of her shopping cart. This is an example of:
Shipment Contract
A type of contract specifying that the seller is obligated to send the goods to the buyer, but the risk of loss passes to the buyer when the goods are duly delivered to the carrier.
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.
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