Section 555: To bear risks

1) Except as otherwise provided for in the contract, the seller shall bear the risks of any loss or damage to the goods until such goods are transferred to the buyer.

2) If the transfer of goods has been delayed due to the fault of either the buyer or the seller, the party who has caused such delay shall bear the risk of loss or damage under sub-section (1).

3) If the seller agrees to deliver the goods from the place of purchase to the place specified by the buyer, the seller shall bear the risk of any loss or damage to the goods, except as otherwise provided for in the contract.