Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Millard Corp. agreed to purchase 100 radios from Rao Suppliers, Inc. Rao is a wholesaler of small home appliances and Millard is an appliance retailer.

Millard Corp. agreed to purchase 100 radios from Rao Suppliers, Inc. Rao is a wholesaler of small home appliances and Millard is an appliance retailer. The contract required Rao to ship the radios to Millard by common carrier, FOB Rao Suppliers, Inc. Loading Dock.

If the radios are lost during shipment, who is responsible?

Group of answer choices

Millard, because title to the radios passes to Millard at the time of shipment

Rao, because it is a shipment contract.

Rao, because the risk of loss passes only when Millard receives the radios.

Millard, because the risk of loss passes when the radios are delivered to the carrier.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Accounting Volume 1

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

12th Canadian Edition

0136889373, 9780136889373

More Books

Students also viewed these Accounting questions

Question

Discuss the psychological influences on customers.

Answered: 1 week ago