Which of the following terms refers to the point in the transaction where the risk of loss or damage to the goods is transferred from the seller to the buyer?

Question

Quizplus · Accepted Answer

Delivery refers to the point where the seller physically hands over the goods to the buyer. Along with delivery, the risk of loss or damage to the goods also gets transferred to the buyer. Therefore, option D is the correct choice in this context.

Option A is incorrect because demurrage refers to the penalty charged by the owner of the cargo for the delay in unloading the goods from the ship.

Option B is incorrect because ad litem refers to a person appointed by the court to represent a minor, incapacitated, or absent party in a legal matter.

Option C is incorrect because contra legem means against the law or contrary to the law.

Which of the Following Terms Refers to the Point in the Transaction