• 1 Marks

BL – May 2012 – L1 – SA – Q14 – Sale of Goods

Determine when the risk in goods transfers from seller to buyer in a sale of goods contract.

In an agreement for the sale of goods, the risk remains with the seller until:

A. Sale is completed
B. Goods are inspected to the satisfaction of the buyer
C. Final payment is made by the buyer
D. Cost, insurance, and freight are paid for
E. Bill of lading is signed by the seller

A. Sale is completed

Explanation:
In a contract for the sale of goods, the risk typically passes to the buyer once the sale is complete, meaning once ownership is transferred. Until then, the seller remains responsible for the goods.

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