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Which of the following is the most accurate statement?
Risk Of Loss
The potential for an investment, asset, or transaction to result in a financial loss rather than a gain.
F.O.B. Ocean City
Free on Board Ocean City, a shipping term indicating that the seller is responsible for goods and their cost of transport until they are loaded aboard a vessel at Ocean City.
Destination Contract
A type of contract specifying that the seller is responsible for the goods until they are delivered to a specific destination or address as indicated in the contract.
Shipment Contract
A legal agreement where the seller is obligated to send the goods to a specific destination, with the risk of loss passing to the buyer upon delivery to the carrier.
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