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CPA QUESTION On Monday, Wolfe paid Aston Co., a furniture retailer, $500 for a table. On Thursday, Aston notified Wolfe that the table was ready

CPA QUESTIONOn Monday, Wolfe paid Aston Co., a furniture retailer, $500 for a table. On Thursday, Aston notified Wolfe that the table was ready to be picked up. On Saturday, while Aston was still in possession of the table, it was destroyed in a fire. Who bears the loss of the table?

  1. Answer
  2. Wolfe because Wolfe had title to the table at the time of loss
  3. Aston unless Wolfe is a merchant
  4. Wolfe unless Aston breached the contract
  5. Aston because Wolfe had not yet taken possession of the table

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