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Contract is concluded

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Contract is concluded

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by AvatarMikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
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    Posts
  • March 15, 2017 at 4:01 am #378272
    Avatarlynkyiphyo
    Member
    • Topics: 11
    • Replies: 15
    • ☆

    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

    March 15, 2017 at 7:42 am #378278
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    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?

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  • The topic ‘Contract is concluded’ is closed to new replies.

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