Ressorp Inc
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Answer the question as if you are counsel for Reardon:
Ressorp, Inc. in Japan agreed to sell 700 television sets to Reardon, a wholesaler, in the United States for US$ 144,417.00. Ressorp, Inc. and Reardon expressly agreed that Reardon would not pay for the television sets until Reardon both received and sold the merchandise in the United States. They also agreed that the merchandise would be shipped CPT Portstown in the United States and that Incoterms 1990 would govern. Ressorp, Inc. arranged to ship the goods with Oceanic Carriers, whose place of business is located in Beachtown, Japan. Ressorp, Inc. loaded the goods from its warehouse into a trailer and delivered the trailer to Oceanicâ??s freight depot in Beachtown. Several days later, the trailer was discovered to be missing and then it was found abandoned and empty. Reardon, the buyer, then sued Oceanic Carriers. The carrier challenged Reardon's standing (right) to sue claiming that the original contract said Reardon had no liability to pay for the merchandise until after it was received and sold by Reardon.
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The terms of shipment are CPT Portstown. In the US. CPT mans carriage paid to. Now according to Incoterms 1990, there are two division points. One is for the division of costs, namely the costs are assumed by the seller till the destination point. The second division point is the division of risk. The risk gets transferred to the buyer at the point of shipment.
Now let us consider the case of Ressorp and Reardon. Since the terms are CPT, the risk gets ...
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