PASSAGE OF RISK
\pˈasɪd͡ʒ ɒv ɹˈɪsk], \pˈasɪdʒ ɒv ɹˈɪsk], \p_ˈa_s_ɪ_dʒ ɒ_v ɹ_ˈɪ_s_k]\
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During a transaction, the passage of risk is a phase in which the risk of damage or loss passes from the seller of the product to the buyer. For different products/ items, the passage of risk occurs at different phases in its transaction.
By Henry Campbell Black
