BUSINESS LAW I unit 7 - happen along the way No arrival no...

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UNIT 7 ESSAY QUESTION You want the latest in mini laptop computers. You find what you need by searching on the Internet. The seller is in Taiwan. You negotiate a deal with the seller over the Internet and buy the computer. The seller agrees to ship you the computer by boat. QUESTION What terms (words) would you insist be in the Sales Contract so you would not bear the Risk of Loss? I would include a destination contract with the sales contract with the following things. - FOB Destination : This is similar to FOB but now the risk of loss does not get transferred until the merchandise reaches the destination point. This is a good clause to have to protect my interest in the purchase and give me ease of mind. - Ex-ship : The seller will bear the risk of loss until the merchandise has been unloaded from the ship. This would come in handy form shipping point to destination no matter what may
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Unformatted text preview: happen along the way.- No arrival, no sale : This means that there is no contract unless the merchandise arrives to the buyer. The seller may have to compensate the buyer if the merchandise arrives damage. This can ultimately protect both parties but it is still good to have if the product does not arrive and the seller is at fault. I would also include, Cost and Freight and Cost, Insurance and Freight. This holds the seller accountable for arranging and paying for delivery to the port of shipment and seafreight to the port of destination, you are also responsible for arranging and paying for insurance covering the buyer's risks during movement of the goods. UNIT 7 ESSAY QUESTION Works Cited: Business Law I, 14th Edition, Mallor, Barnes, Bowers, Langvardt; Chapt. 19 Pgs.493,494,495.
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This note was uploaded on 04/10/2011 for the course BUS L 1 taught by Professor Smith during the Fall '11 term at Post.

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BUSINESS LAW I unit 7 - happen along the way No arrival no...

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