Unless Specified Otherwise,UCC Section 2-509 Places the Risk of Loss

question 58

Multiple Choice

Unless specified otherwise,UCC section 2-509 places the risk of loss on the party controlling the goods at the time loss occurs,because that party is better able to take precautions to protect the goods and to insure against loss.As a result,a party:

• A) may bear the risk of loss even if it does not hold title to the goods at the time of loss.
• B) is protected from risk of loss if it does not hold title to the goods.
• C) may not be at risk of loss until in physical possession of the goods.
• D) cannot avoid risk of loss from the moment an offer is made.

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Definitions:

Price Levels

A mean calculation of prices for all goods and services currently in the economic domain.

Nominal Exchange Rate

The rate at which the currency of one country can be exchanged for the currency of another country, not adjusted for inflation.

Net Exports

The value of a country's total exports minus its total imports, representing the net amount of a nation's goods and services traded with the rest of the world.

Appreciates

Refers to an increase in the value of an asset or currency relative to another.