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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Contract is concluded
I would like to know…
What is “the time the contract is concluded” ?
The risk in goods in transit passes to the buyer from the time the contract is concluded.
Thanks
LKP
I believe that you have missed off a word in your post
The issue surely relates to the risk in the situation where goods are sold whilst in transit from the original seller to the original buyer
In this case, the buyer then sells those goods whilst they are still in transit to a third party and the risk of ownership passes at the moment the original buyer and the third party have reached agreement ie the moment they have concluded the contract of purchase
Clearer?