Asked by
Katie Schmitz
on Nov 27, 2024Verified
EverSafe Corporation in New York sells a truckload of protective suits, masks, and other safety gear to Foundry Inc. in Connecticut, "F.O.B. New York." EverSafe arranges with Geo Truckline to transport the goods. The cost of the transport will be paid by
A) EverSafe.
B) Foundry.
C) Geo.
D) all businesses through an increase in the prices of safety gear.
F.O.B. New York
A contractual term indicating that the seller delivers goods, ready for shipment, to a specific location in New York, with the buyer assuming shipping costs and risk of loss.
Transport
The action or process of moving goods or people from one place to another.
Protective Suits
Specialized clothing designed to protect the wearer from physical harm, hazardous materials, or environmental conditions.
- Discern the ramifications of F.O.B. conditions on liability for loss and transportation costs in contractual agreements.
Verified Answer
YM
Learning Objectives
- Discern the ramifications of F.O.B. conditions on liability for loss and transportation costs in contractual agreements.