Uri sells 100 cases of vitamins to Wanda,but before she takes physical possession,the cases are lost.Under the UCC,the parties' rights and obligations with respect to the loss depend on the concept of
A)identification.
B)insurable interest.
C)risk of loss.
D)title.

Question

Quizplus · Accepted Answer

Under the UCC, the concept of risk of loss determines the parties' rights and obligations in case of loss before the buyer takes physical possession. The risk of loss may be allocated to either the seller or the buyer depending on the circumstances. If the risk of loss is on the seller, the seller bears the loss and must deliver the goods again, or refund the price if the goods cannot be delivered again. However, if the risk of loss is on the buyer, they must still pay the purchase price even if the goods are lost before taking physical possession. Therefore, the parties' rights and obligations with respect to the loss of the vitamins depend on the concept of risk of loss.

Uri Sells 100 Cases of Vitamins to Wanda,but Before She