Question

In: Operations Management

Explain when title and risk of loss pass in regard to goods. Defend your position.

Explain when title and risk of loss pass in regard to goods. Defend your position.

Solutions

Expert Solution

title and risk of loss pass in regard to goods

Title and Risk of Loss. Notwithstanding the type of shipment, title or other property interest, risk of loss will not pass from the Contractor to the Authorized User until the Products have been gotten, inspected and acknowledged by the receiving substance. Acknowledgment will happen within a sensible time or in understanding with such other defined acknowledgment period as might be indicated in the Bid Specifications or Purchase Order. Insignificant affirmation by Authorized User work force of the conveyance or receipt of goods e.g., marked bill of lading will not be regarded or interpreted as acknowledgment of the Products got. Any conveyance of Product that is substandard or doesn't conform to the Bid Specifications or Contract terms and conditions, might be dismissed or acknowledged on a balanced value premise, as determined by the Commissioner.

Title to and risk of loss of any BFE will whatsoever occasions remain with the Buyer aside from that risk of loss constrained to cost of substitution of said BFE will be with the Seller for whatever length of time that such BFE is under the consideration, custody and control of the Seller.


Related Solutions

In a shipment contract, when does title and risk of loss pass from Seller to Buyer:...
In a shipment contract, when does title and risk of loss pass from Seller to Buyer: a) If the terms was FOB Shipping Point? b) If the shipment term was FOB Destination?
Identify who bears the risk of loss when goods are stolen and resold?
Identify who bears the risk of loss when goods are stolen and resold?
Course Title: Managerial Economics 1. Is managerial economics theory a discipline? Take a position and defend...
Course Title: Managerial Economics 1. Is managerial economics theory a discipline? Take a position and defend it. 2. What is demand? What are two ways to depict a demand schedule? 3. Discuss and explain your answer to the following: a. As the price of concert tickets rises, what happens to the quantity of tickets that people are willing to buy? b. As the price of concert tickets rises, explain what happens to the quantity of tickets that people are willing...
explain (and defend) your position on using bottled water. Include your reasons for and/or against using...
explain (and defend) your position on using bottled water. Include your reasons for and/or against using bottled water, and provide evidence and/or data for your decision-making, such as the benefits versus the potential negative consequences.
Explain the pros and cons of regional integration and defend your position regarding regional integration. sources:...
Explain the pros and cons of regional integration and defend your position regarding regional integration. sources: introduction to global business ch.3
If most buyers regard two goods X and Y as _______________, then when the price of...
If most buyers regard two goods X and Y as _______________, then when the price of good Y increases, the market demand for good X will __________________. Select one: a. substitutes, shift outward b. substitutes, shift inward c. complements, shift outward
The Uniform Commercial Code states that if goods are held by a merchant seller, the risk of loss passes to the buyer when she takes physical possession of the goods.
The Uniform Commercial Code states that if goods are held by a merchant seller, the risk of loss passes to the buyer when she takes physical possession of the goods. If goods are held by a non-merchant seller, on the other hand, risk of loss passes to the buyer when the seller tenders the goods to the buyer. Briefly explain why merchant sellers bear the risk of loss longer than non-merchant sellers.
From a marketing concept point of view, is it wrong to sell cigarettes? Defend your position.
From a marketing concept point of view, is it wrong to sell cigarettes? Defend your position.
Define and defend your own position on the University of Texas/Texas A& M admissions policy of...
Define and defend your own position on the University of Texas/Texas A& M admissions policy of granting admission to the Top 7-8% of students from Texas High Schools.
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
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT