If the Contract Doesn't Say Who Bears the Loss If

question 50

Multiple Choice

If the contract doesn't say who bears the loss if an item is lost or stolen, the Sale of Goods Act says risk goes with title. If the contract doesn't say when the title will pass, the Sale of Goods Act implies when it will pass. In which of the following will the statute imply that title will pass to the buyer at the time of the contract?

• A) While at Sears, Preston decides to buy the style of sofa he sees on display. He pays cash and the store arranges to have one like it, covered in the material he selects, delivered directly to him from the factory.
• B) Maureen contracts for Ms. Roberts' next year's pumpkin crop.
• C) Azar goes into a store specializing in old woodworking tools. He chooses a $1000 tooling machine. The contract provides that it would be delivered to his workshop the next morning and he would pay for it in one month.
• D) George calls a store and asks them to deliver the table advertised in its catalogue. The store agrees, takes his credit card number, and promises to deliver it on Friday.
• E) Agro Ltd. buys all the chemicals contained in the container marked "A" but the price has to be ascertained by measuring the number of litres in the container.

Recognize the innovative use of technology in non-traditional settings, such as sports and leisure.

Recognize the changing landscape of the IS workforce and the strategic importance of the IS function within organizations.

Understand the role of MIS (Management Information Systems) in providing consultative services and managing company operations.

Distinguish between data, information, knowledge, and wisdom in the context of business decision-making.

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Definitions:

State Championship

A competitive event where teams or individuals from various regions or schools within a state compete to determine the champion in a particular sport or activity.

Standard Deviation

A statistical measure that quantifies the amount of dispersion or variation of a set of data values from the mean value.

Symmetric

A characteristic where something is identical on both sides of a central point or axis.

IQR

Stands for Interquartile Range, which is a measure of variability based on dividing a data set into quartiles.