Steve sold his canoe to his neighbor Rhonda for $300.Steve then tells Rhonda, "I'll put the canoe in my driveway and you can pick it up any time tomorrow." Steve retains risk of loss until Rhonda picks up the canoe.

Question

Quizplus · Accepted Answer

In a sale of goods, the risk of loss typically passes to the buyer upon delivery or when the buyer takes possession, unless otherwise agreed. Since Rhonda has the right to pick up the canoe, the risk of loss would generally pass to her once Steve makes it available for pickup.

Steve Sold His Canoe to His Neighbor Rhonda for $300