The First Rule Governing Transfer of Title and Risk of Loss

question 64

Multiple Choice

The first rule governing transfer of title and risk of loss states that:

• A)title transfers to the buyer as soon as the goods are delivered.
• B)the buyer has both title and risk of loss as soon as the goods are paid for,regardless of their physical location.
• C)the supplier and small business may agree to a shift of the risk of loss at any time during the transaction between them.
• D)title transfers to the buyer as soon as the goods are in the hands of the carrier.

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Definitions:

Competitive Outcome

The result achieved in a market where businesses vie for customers by offering better prices, quality, or services, leading to benefits for consumers.

Duopoly Outcome

The result or consequence of a market structure where two companies dominate the supply of a product or service.

Price-fixing Agreement

An illegal arrangement in which businesses agree on prices of their goods or services, undermining competition.

Market Structures

The organizational and other characteristics of a market that influence the nature of competition and pricing.