Mighty Motors Case Summary
Case 2. Silas will not be able to enforce the agreement that his friend, Abraham, made, to pay him $5,000 for this stamp collection. In this …show more content…
New York, and
Answer: C.I.F. is an abbreviation meaning “ Cost of Insurance and Freight”; which requires James to pay for all costs and expenses for the shipment of goods, right up to their point of destination, at which time all subsequent costs and risks will pass to the buyer.
(4) the goods are shipped F.A.S. Lake Queen (a freighter)?
Answer: When the goods are shipped F.A.S. Lake Queen (a freighter), the same terms are in force as those listed above, in situation (3), with the seller being solely responsible for all expenses and risks involved with the shipment of the goods until the destination port of the ship. The buyer assumes all responsibility from that point.
Case 10. Lykins is correct, and Farmer is liable to pay for the tractor. Farmer became responsible for taking care of the tractor from the time that it was delivered to him. He should have ensured that it was in working condition when he took possession of it. Farmer had a duty to safely store and protect the tractor from damage or theft while it was in his physical possession. Once it was delivered to his property he was supposed to take proper care of it, even if it was defective, until Lykins could pick it up from there. (Jentz, 2012) pp