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Question
Larry, a merchant seller, had contracted with Simon to buy welding equipment. The contract stipulated that Larry would pick up the equipment from Simon's warehouse on the 14th day from the date of the contract. Larry could not make the pick-up on the stipulated date and before he could do so on the 15th day, the warehouse and its contents were destroyed by arsonists. In this situation, who bears the risk of loss for the goods that were to be received by Larry?A) The risk of loss lies with Larry for delaying the pick-up.
B) The risk of loss lies with Simon for not protecting the goods from the arsonists.
C) The risk of loss is equally shared by Larry and Simon.
D) The risk of loss is shifted to the persons responsible for the fire.
Answer
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Related questions
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Which of the following is true of a fully disclosed agency?
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D) The principal is liable on the contract with a third party.
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A) duty to indemnify
B) duty to account
C) duty to reimburse
D) duty to notify
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Which of the following is an instance of misuse of confidential information?
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Q:
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