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TRANSFER OF RISK IN A CONTRACT OF SALE

What is Transfer of Risk?

Whoever is the owner of goods would bear the risk of damages that happen to the goods while it is still his property.┬áThis is encapsulated in the maxim “res periit domino suo” which literally means “the destruction of a thing is a loss to its owner”.

By the provisions of S.20 of the SOGA, risk in the goods lies with the seller but Read More…