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Question 1 (International Sale of Goods) Gant Ltd buys 1000 tons of corn from Corn Supply Ltd, fob Port Klang. Delivery of the goods is

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Question 1 (International Sale of Goods) Gant Ltd buys 1000 tons of corn from Corn Supply Ltd, fob Port Klang. Delivery of the goods is to be made by 30 October 2021. Gant Ltd nominated a ship, the Evergreen which was supposed to arrive at port of shipment on 15 October 2021, which will give Corn Supply Ltd enough time to load the ship. However, due to some problems, the ship only arrives at 7pm, Wednesday 27 October 2021. The corn is loaded onboard the Evergreen on Thursday 28 October 2021. However, only 500 tons could be loaded as the ship need to do its voyage if they were to arrive to its destination on 30 October 2021. a) Describe the duties of Gant Ltd and Corn Supply Ltd in an FOB contract. (10 marks) b) Assuming the ship arrived at the destination on 1 November 2021, with reference to previous cases, explain who bears the risk of loss? (15 marks)

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