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- Risk_of_loss abstract "Risk of loss is a term used in the law of contracts to determine which party should bear the burden of risk for damage occurring to goods after the sale has been completed, but before delivery has occurred. Such considerations generally come into play after the contract is formed but before buyer receives goods, something bad happens.Under the Uniform Commercial Code (UCC), there are four risk of loss rules, in order of application: Agreement - the agreement of the parties controls Breach - the breaching party is liable for any uninsured loss even though breach is unrelated to the problem. Hence, if the breach is the time of delivery, and the goods show up broken, then the breaching rule applies risk of loss on the seller. Delivery by common carrier other than by seller.Risk of loss shifts from seller to buyer at the time that seller completes its delivery obligationsIf it is a destination contract (FOB (buyer's city)), then risk of loss is on the seller.If it is a delivery contract (standard, or FOB (seller's city)), then the risk of loss is on the buyer. In cases not covered by the foregoing rules, if the seller is a merchant, then the risk of loss shifts to the buyer upon buyer's \"receipt\" of the goods. If the buyer never takes possession, then the seller still has the risk of loss. In bankruptcy law, the risk of loss rule under a contract can be abrogated by a secured interest.".
- Risk_of_loss wikiPageID "2014940".
- Risk_of_loss wikiPageLength "1809".
- Risk_of_loss wikiPageOutDegree "11".
- Risk_of_loss wikiPageRevisionID "693090852".
- Risk_of_loss wikiPageWikiLink Bankruptcy.
- Risk_of_loss wikiPageWikiLink Breach_of_contract.
- Risk_of_loss wikiPageWikiLink Category:Contract_law.
- Risk_of_loss wikiPageWikiLink Collateral_(finance).
- Risk_of_loss wikiPageWikiLink Common_carrier.
- Risk_of_loss wikiPageWikiLink Contract.
- Risk_of_loss wikiPageWikiLink Destination_contract.
- Risk_of_loss wikiPageWikiLink FOB_(shipping).
- Risk_of_loss wikiPageWikiLink Law.
- Risk_of_loss wikiPageWikiLink Uniform_Commercial_Code.
- Risk_of_loss wikiPageWikiLinkText "Risk of loss".
- Risk_of_loss wikiPageWikiLinkText "allocate risk".
- Risk_of_loss wikiPageWikiLinkText "risk of loss".
- Risk_of_loss wikiPageUsesTemplate Template:Contract_law.
- Risk_of_loss wikiPageUsesTemplate Template:Law-stub.
- Risk_of_loss wikiPageUsesTemplate Template:Reflist.
- Risk_of_loss subject Category:Contract_law.
- Risk_of_loss hypernym Term.
- Risk_of_loss comment "Risk of loss is a term used in the law of contracts to determine which party should bear the burden of risk for damage occurring to goods after the sale has been completed, but before delivery has occurred.".
- Risk_of_loss label "Risk of loss".
- Risk_of_loss sameAs Q17117422.
- Risk_of_loss sameAs m.06f4_w.
- Risk_of_loss sameAs Q17117422.
- Risk_of_loss wasDerivedFrom Risk_of_loss?oldid=693090852.
- Risk_of_loss isPrimaryTopicOf Risk_of_loss.