Seller agrees to sell and deliver goods to the buyer.The terms were F.O.B.destination.The goods were delivered to the common carrier,but were destroyed in transit.Both parties have insurance policies that will cover the loss,if they have an insurable interest.Which of the following statements best describes this situation?
A) The seller has an insurable interest in the goods until they are delivered to the buyer.
B) The buyer had an insurable interest in the goods ever since they were identified to this contract.
C) Since the seller has the risk of loss,only the seller will be able to collect insurance proceeds.
D) A,B,and C are true.
E) A and C only are true.
Correct Answer:
Verified
Q67: When a thief sells stolen goods to
Q68: Mary runs a ski shop at a
Q69: When a buyer breaches a contract by
Q70: A buyer and seller contract for the
Q71: A seller contracted to sell lumber to
Q73: Seller contracts to sell goods to the
Q74: A seller contracted to sell goods to
Q75: Theona Thief stole an expensive watch.Theona then
Q76: A seller contracted to sell goods to
Q77: In general,what is the effect on risk
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents