If goods that are the subject of a sales contract are lost, damaged uno fault of nith pone

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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T6.

 

If goods that are the subject of a
sales contract are lost, damaged
or destroyed by no fault of either
buyer or seller, after risk of loss
passed to the buyer, then
a) The seller must return any
prepaid purchase price
b) The buyer can cancel the
contract
c) The buyer must still pay seller
d) None of the Above
Transcribed Image Text:If goods that are the subject of a sales contract are lost, damaged or destroyed by no fault of either buyer or seller, after risk of loss passed to the buyer, then a) The seller must return any prepaid purchase price b) The buyer can cancel the contract c) The buyer must still pay seller d) None of the Above
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