Business Law - You are the buyer of a large quantity of ball bearings
Question # 00771146
Posted By:
Updated on: 07/21/2020 02:39 PM Due on: 07/21/2020

1. Read the following scenario and answer the question in 5-10 sentences.
You are the buyer of a large quantity of ball bearings. You sign a contract drafted by the seller which states you will “pay $500,000 for shipment for agreed goods arriving to New York next year on ship MV Liberty.” Afterward you realize that “Liberty” is a common name in shipping and are concerned that a risk exists that you will be forced to pay for different goods that arrive on a ship with a similar name. Evaluate this risk and articulate ways that the contract could have been drafted to prevent a problem.

-
Rating:
5/
Solution: Business Law - You are the buyer of a large quantity of ball bearings