The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

PASSAGE OF RISK Definition & Legal Meaning

Definition & Citations:

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.

Disclaimer

This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.