Asked by
Micaela Beatriz
on Nov 30, 2024
Verified
The parties, by agreement, may divide the risk and shift the allocation of risk.
Allocation Of Risk
The process of defining and assigning the financial or operational responsibilities associated with potential risks in contractual agreements.
Parties
Individuals, groups, or entities that enter into a legal agreement or are involved in a legal proceeding.
Agreement
A mutual understanding or arrangement between two or more parties about their relative rights and responsibilities.
- Educate oneself on the transfer of title and the risk of loss as defined by the Uniform Commercial Code.
Verified Answer
MV
Learning Objectives
- Educate oneself on the transfer of title and the risk of loss as defined by the Uniform Commercial Code.
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