BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Risk is with the seller
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Risk is with the buyer
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Ownership and risk generally go together
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Ownership and risk not going together
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Detailed explanation-1: -Risk prime facie passes with property or ownership. Goods remain at seller’s risk, that means, any damage done to the goods are to be borne by the sellers.
Detailed explanation-2: -The risk in the property prima facie passes with the property, but if the parties to the contract agree to pass the risk on the property at some other level of transaction, then that is also possible, depending upon the terms of their contract.
Detailed explanation-3: -Risk prima facie passes with property.-Unless otherwise agreed, the goods remain at the seller’s risk until the property therein is transferred to the buyer, but when the property therein is transferred to the buyer, the goods are at the buyer’s risk whether delivery has been made or not: 1. Subs by Act 33 of 1963, s.
Detailed explanation-4: -The general rule about risk is that unless the parties have otherwise agreed, risk passes with property, although the position is different when the buyer deals as consumer.