Which of the following occurs when a contract for the sale of goods includes a "CIF" shipping term?
A) Risk of loss passes from the seller to the buyer when the goods are identified to the contract.
B) Risk of loss passes from the seller to the buyer when the goods are delivered to the buyer.
C) Risk of loss remains with the seller for 2 days (forty-eight hours) after the sale.
D) Risk of loss remains with the seller for 3 days (seventy-two hours) after the sale.
E) The seller puts the goods in possession of a carrier before the risk passes to the buyer.
Correct Answer:
Verified
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