LAW204 – Business Law I
Minimizing Risk of Loss for the Buyer
In Unit 7, you are learning about sales contacts and ways in which businesses can limit risk of loss. In this assignment, you will analyze a commercial transaction to determine what contract terms should be included in order to minimize the risk of loss for the buyer.
Imagine that you are a manager in a commercial printing company, and you have found A good deal on the ink that your company uses most frequently from a supplier IN Japan.
•Using the materials from this week’s reading as well as the supplemental resources, consider what shipping terms you should insist be in the contract in order to limit the risk of loss for your company.
•Using the attached Memo template, draft an interoffice memo to the owner of the company describing at least three shipping terms you would want to be included in the contract.
•Include one resource, in addition to the textbook.
o Use APA format for non-legal sources such as the textbook. Use Bluebook citation format for any legal citations.
•Submit a Word document.
•Maximum two pages in length, excluding the Reference page. please use the template attached.
Readings and Resources
Langvardt, A., Barnes, A.J., Prenkert, J.D., McCrory, M.A., & Perry, J.E. (2019). Business law: The ethical, global, and e-commerce environment (17th ed.). New York: McGraw-Hill Education. Chapter 19 introduces the concept of the Uniform Commercial Code and how it applies to the domestic sale of goods. You will also learn about the terms of sales contracts and the significance of the passage of title of the goods. You will also learn about the risk of loss and how that risk can be mitigated by using certain contract terms.
- Chapter 19: Performance and Terms of Sales Contracts