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A and B entered a variety store owned byC. A purchased two chocolate bars from C, and gave one toB. Unknown to A, B, or C the chocolate bar which A gave to B contained a piece of metal that had fallen into the chocolate mix when the candy bar was made. When B attempted to eat the chocolate, she damaged one of her teeth. She was obliged to have the tooth repaired by a dentist, and in addition, lost a day's work because of the painful injury to her mouth. Her total loss amounted to $300.00.
The manufacturer of the chocolate bar has strict liability if the product he manufactures causes injury.
Port of Shipment
The port of shipment is the specific location where goods are loaded onto a shipping vessel for export.
Risk Management
The practice of identifying, assessing, and controlling threats to an organization's capital and earnings.
Offshore Supplier
A supplier located in a different country, often chosen for cost advantages or specific expertise.
Supplier's Currency
Refers to the currency in which a supplier prefers to conduct transactions, possibly influencing international trade and payment methods.
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