Twyla Buys a Bicycle from U-Pik-It Bike Store, Which Agrees

question 31

Multiple Choice

Twyla buys a bicycle from U-Pik-It Bike Store, which agrees to keep the bike for Twyla until she picks it up. Before Twyla gets the bike, a fire destroys the store and the bike. The loss is suffered by

• A) neither Twyla nor U-Pik-It
• B) Twyla and U-Pik-It.
• C) Twyla only.
• D) U-Pik-It only.

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Definitions:

Risk of Loss

The risk of loss refers to the potential for an asset to lose value or for an investment to not perform as expected, often shifted from seller to buyer upon completion of certain conditions in a contract.

Accidental Fire

An unplanned and unintentional flame or blaze causing damage, which is not caused by deliberate action.

Marxist Exploitation Theory

The assertion that the powerful economic elite promotes, and benefits from, prejudice and discrimination.

Economic Elite

A small, privileged group positioned at the top of the economic hierarchy, possessing a significant amount of wealth and power.