2013 (Mercantile Law ) Bar Exam Questions: Multiple Choice Question 8

[Answer/discuss the question below. Or check Mercantile Law Instructions; Mercantile Law Essay Questions: 1, 2, 3, 4, 5, 6, 7, 8, 9 and 10; Mercantile Multiple Choice Questions: 1, 2, 3, 4, 5, 6, 79, 10, 11, 12, 13, 14 and 15; See also 2013 Bar Exam: Information, Discussions, Tips, Questions and Results]

VIII.

Anton imported perfumes from Taiwan and these were released to him by the bank under a trust receipt. While the perfumes were in Anton’s warehouse, thieves broke in and stole all of them.

Who will shoulder the loss of the stolen perfumes? (1%)

(A) The loss of the perfumes will be borne by the bank in whose behalf the perfumes were held in trust.

(B) Anton will bear the loss.

(C) The exporter can hold both the bank and Anton liable for the loss.

(D) The exporter from whom Anton bought the perfumes will bear the loss.

(E) No one bears the loss for an unforeseen event.

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