Question 1: If John picked up goods from Steve, and while tranporting them to Bob, the trailer was destroyed. Bob refuses to pay for the goods since they weren't delivered. Who pays for the goods? Question 2: Same fact as above. Steve loaded the wrong items and the goods were shipped. What happens in this situation. Question 3: If Steve sent the goods and they were stolen. They were purchased by Victoria from the theifs. Who is entitled to the goods. Steve, Victoria, or Bob.

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
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Question 1: If John picked up goods from Steve, and while tranporting them to Bob, the trailer was destroyed. Bob refuses to pay for the goods since they weren't delivered. Who pays for the goods?

Question 2: Same fact as above. Steve loaded the wrong items and the goods were shipped. What happens in this situation.

Question 3: If Steve sent the goods and they were stolen. They were purchased by Victoria from the theifs. Who is entitled to the goods. Steve, Victoria, or Bob.

Answer these 3 questions

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Goods in transit can be defined as the inventory stock or items that have been shipped or dispatched from the seller’s place but have not reached the buyer’s place yet. These goods are often exposed to various kinds of threats or risks such as theft, loss, accidents, damages, etc.

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