BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Seller has lost possession
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Seller still has possession
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Buyer has not received possession
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Both (a) & (c)
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Detailed explanation-1: -: conveyance of persons or things from one place to another. (2) : usually local transportation especially of people by public conveyance. also : vehicles or a system engaged in such transportation. : an act, process, or instance of passing through or over.
Detailed explanation-2: -Transit means “journey, ” and saying you’re “in transit” means you’re on your way somewhere. Before we had cell phones, one of the upsides of being in transit was that no one could get in touch with you. Transit may be familiar to you from the phrase mass transit.
Detailed explanation-3: -: in the process of being transported. Some of the goods were lost in transit.
Detailed explanation-4: -Transit transport means the transport of passengers or goods through the territory of State of one of the Contracting Parties, during which the points of departure and destination are outside the territory of that State.