With a simple delivery contract in which the seller is a merchant, which party sustains a loss if, through no fault of either party, the goods are destroyed through fire prior to delivery?
A) The seller
B) The buyer
C) Both the buyer and seller with the loss being proportioned 50% to the buyer and 50% to the seller
D) Both the buyer and seller with the loss being proportioned 75% to the buyer and 25% to the seller
E) Both the buyer and seller with the loss being proportioned 25% to the buyer and 75% to the seller
Correct Answer:
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