Which of the Following Occurs When a Contract for the Sale

question 111

Multiple Choice

Which of the following occurs when a contract for the sale of goods includes a "CIF" shipping term?

• A)Risk of loss passes from the seller to the buyer when the goods are identified to the contract.
• B)Risk of loss passes from the seller to the buyer when the goods are delivered to the buyer.
• C)Risk of loss remains with the seller for 2 days (forty-eight hours)after the sale.
• D)Risk of loss remains with the seller for 3 days (seventy-two hours)after the sale.
• E)The seller puts the goods in possession of a carrier before the risk passes to the buyer.

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Definitions:

Defines Methods

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Container

An object used to hold and organize multiple elements, typically allowing for storage, retrieval, and manipulation.

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The class from which a subclass inherits features such as methods and variables in object-oriented programming.

GUI

Stands for Graphical User Interface, a visual way of interacting with computers using items such as windows, icons, and buttons, opposed to text-based interfaces.