What rights and remedies does Imports of America have against Liquors of the World?

Imports of America, Inc. contracted to purchase from Liquors of the World 900 cases of 2008 Chardonnay at $85 per case. Imports prepaid the shipment of the wine. En route to its fi nal destination in California, the ship carrying the wine sinks due to a storm at sea. What rights and remedies does Imports of America have against Liquors of the World?

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