Question

In: Accounting

A buyer purchases goods from an online seller. The goods will be delivered from the seller...

A buyer purchases goods from an online seller. The goods will be delivered from the seller to the buyer under a shipment contract. The title to the goods will pass from the seller to the buyer when

Select one:

a. seller delivers the goods to the carrier

b. goods arrive at the buyer's stated address

c. buyer takes actual possession of the goods

d. buyer receives a receipt from the seller

e. buyer pays the seller for the goods

Solutions

Expert Solution

Answer : Option A, seller delivers the goods to the Carrier.

Explanation :

In a shipment contract, a seller shall bear the risk of damage to the items sold only until they are brought to the place of shipment. If the terms of delivery are not addressed in a contract, then such a contract is considered as a shipment contract. A shipment contract is a contract that requires or authorizes the seller to send the goods to the buyer but does not require that he deliver them at any particular destination. Generally, in shipment contracts, risk of loss passes to the buyer at the point of shipment, which is also the point of ‘delivery.’

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

A buyer purchases goods from an online seller. The goods will be delivered from the seller...
A buyer purchases goods from an online seller. The goods will be delivered from the seller to the buyer under a shipment contract. The title to the goods will pass from the seller to the buyer when... (a) seller delivers the goods to the carrier (b) goods arrive at the buyer's stetted address (c) buyer takes actual possession of the goods (d) buyer receives a receipt from the seller (e) buyer pays the seller for the goods
If the buyer and seller do not have an agreement for where the goods are to be delivered, the goods should be delivered at the _____.
If the buyer and seller do not have an agreement for where the goods are to be delivered, the goods should be delivered at the _____.seller's place of businessseller's house, even if the seller has a place of businessbuyer's housebuyer's place of work
Buyer and seller of goods enter into a shipment contract for delivery of the goods by carrier to the buyer.
Buyer and seller of goods enter into a shipment contract for delivery of the goods by carrier to the buyer. Title of these goods passes to the buyer when the (a) seller hands over the goods to the carrier (b) buyer takes the actual delivery of the goods (c) buyer receives a receipt for the goods (d) all of the above
When goods transported from the seller to the buyer by a third party carrier, the time when the risk of loss passes from the seller to the buyer is determined by:
When goods transported from the seller to the buyer by a third party carrier, the time when the risk of loss passes from the seller to the buyer is determined by:(a) the contract's shipping terms (b) the buyer's insurance policy (c) the seller's insurance policy (d) when the title of goods passes from seller to buyer
The moment the contract goods are identified by the lessor or seller, the lessee or buyer...
The moment the contract goods are identified by the lessor or seller, the lessee or buyer has a property interest in the goods, and therefore an insurable interest.             a. This statement is true.             b. This statement is false.
a) Buyer A has entered into a contract for the sale of goods with Seller B....
a) Buyer A has entered into a contract for the sale of goods with Seller B. Seller B has delivered nonconforming goods but has promised to cure the defects. After three months of waiting, Seller B has not cured the defect. What remedy does Buyer A have?   b) Buyer A has entered into a contract for the sale of goods with Seller B. Buyer A has breached the contract while the goods are in transit. What remedy does Seller B...
a)   Buyer A has entered into a contract for the sale of goods with Seller B....
a)   Buyer A has entered into a contract for the sale of goods with Seller B. The contract provides that Seller B will deliver the goods on May 1, 2010. On May 1, 2010, Seller B informs A that it will not be able to perform the contract. Assume Buyer A was going to pay $3,000 for the goods under the contract with Seller B. Seller C will sell Buyer A the goods for $4,000 plus a transportation cost of...
Buyer A has entered into a contract for the sale of goods with Seller B.
Buyer A has entered into a contract for the sale of goods with Seller B. The contract provides that Seller B will deliver the goods on May 1, 2010. On February 1, 2010, Seller B informs A that it will not be able to perform the contract. What has occurred and what remedies are available to A in this case?
On May 1 (the required delivery date), Seller delivered goods that Seller reasonably believed were acceptable....
On May 1 (the required delivery date), Seller delivered goods that Seller reasonably believed were acceptable. The next day, Seller was told tat the goods were nonconforming. Seller immediately gave notice that the improper performance would be cured. Under these facts: a. Seller cannot cure. A seller cannot cure an improper performance. b. Seller cannot cure. A seller can cure only if a cure is done within the original contract time. c. Seller can cure if Seller tenders confirming goods...
On 2/1/YR 1, the Seller delivered goods to the Purchaser in the amount of $7,000 which...
On 2/1/YR 1, the Seller delivered goods to the Purchaser in the amount of $7,000 which are not to the Purchaser's specifications. At the time of the delivery of the goods, the Purchaser had not yet paid for the goods, and the Purchaser planned to pay for them in 3/1/YR 1 (i.e., the following month) in accordance with the credit terms offered by the Seller. Identifying that the goods are not conforming, the Purchaser, on 2/2/YR 1, returns to the...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT