In June,Ed Entered into a Contract to Buy a Motorcycle

question 6

Essay

In June,Ed entered into a contract to buy a motorcycle from Hot Rod Sports.He paid the purchase price of $1,200 and was given the papers necessary to register the motorcycle and get insurance on it.Ed registered the motorcycle but had not attached the license plates to it.He left on vacation and told the Hot Rod salesperson that he would pick up the motorcycle on his return.While Ed was on vacation,there was an electric power blackout in New York City and the motorcycle was stolen by looters.Ed sued Hot Rod to get back his money.Did Hot Rod bear the risk of loss of the motorcycle?

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Definitions:

Interest And Dividends

Payments made to investors for their investment in bonds (interest) and stocks (dividends), representing a return on investment.

Exchange Rate

The rate at which one currency can be exchanged for another, often fluctuating based on market conditions.

Japanese Importer

A business entity or individual in Japan that purchases goods from foreign countries for sale or use within Japan.