Asked by
Erika Valencia
on Nov 27, 2024
Verified
Generally, the party in breach of a sales contract bears the risk of loss.
Party In Breach
The individual or entity that fails to fulfill their contractual obligations, thus violating the agreement.
Sales Contract
An agreement between a buyer and seller outlining the terms and conditions of the sale of goods or services.
Risk Of Loss
The possibility that an asset or investment's value will decrease or will be irretrievably damaged or lost.
- Identify conditions and consequences of a party's breach in sales contracts.
Verified Answer
AS
Learning Objectives
- Identify conditions and consequences of a party's breach in sales contracts.