A seller or lessor retains the risk of loss of the goods until he or she identifies them to a sales or lease contract.

Name: A seller or lessor retains the risk of loss of the goods until he or she identifies them to a sales or lease contract.
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Question

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According to the Uniform Commercial Code (UCC), a seller or lessor retains the risk of loss of goods until they are identified to a sales or lease contract. Once identified, the risk of loss shifts to the buyer or lessee.

A Seller or Lessor Retains the Risk of Loss of the Goods