Common use of PASSING OF TITLE AND RISK Clause in Contracts

PASSING OF TITLE AND RISK. 7.1 Notwithstanding the delivery of the goods or part thereof the goods remain the sole and absolute property of the Supplier as full legal and equitable owner until such time as the Purchaser has paid the Supplier the full purchase price together with the full price of any other goods the subject of any other contract with the Supplier. Risk in all goods passes on delivery or collection (as the case may be).