38.01 The word risk can be used in many general senses in a discussion of the sale of goods. For example, a buyer may take the commercial risk of being able to resell goods at a profit.1 Or, as is the case in this chapter, the risk may be what is sometimes referred to as the ‘price risk’.2 Price risk is the risk of having to bear the cost of damage to the goods,3 or loss thereof because the buyer remains obligated to pay the purchase price, where that loss or damage has happened through no fault of either party. For example, if goods are lost at sea due to an...
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