Exam 17: Title to Goods and Risk of Loss

If the parties to a contract do not agree as to who will bear the risk of losses,the risk of loss remains with the lessor or supplier ________.

Which of the following is an example of delivery of goods without moving them?

Katie owns 100 pairs of shoes.All of Katie's shoes are present in a warehouse.Katie sells her 100 pairs of shoes to Jane.Jane agrees to pick up the shoes from the warehouse.Katie drives to Jane's house and drops off a warehouse receipt for the shoes.Jane then drives from her house to the warehouse to pick up the shoes.When does passage of title occur?

Steve brings his watch to Knell Watches to be repaired.Knell Watches sells and repairs watches.Steve entrusts his watch at Knells' until it is repaired.The watch store repairs the watch,but then sells it to Kevin,who buys the watch with a fraudulent check that bounced.Kevin then resells the watch to his friend Jonathan,who is unaware of the stolen nature of the watch.What kind of title does Jonathan hold over the watch?

Can a risk of loss pass from a seller to a buyer under a sale on approval contract? If so,how?

Which of the following is a good faith purchaser?

If a contract authorizes goods to be delivered without requiring the seller to move them and a document of title is needed for delivery,the title passes from a seller to a buyer at the time of contracting.

Sales contracts can authorize goods to be delivered without requiring the seller to move them.

Steve brings his watch to Knell Watches to be repaired.Knell Watches sells and repairs watches.Steve entrusts his watch at Knells' until it is repaired.The watch store repairs the watch,but then sells it to Kevin,who buys the watch with a fraudulent check that bounced.Kevin then resells the watch to his friend Jonathan,who is unaware of the stolen nature of the watch.Who can legally claim ownership over the watch in court?

If the movement of goods is not required,and the seller is a merchant,the risk of loss ________.

Jason orders 100 remote-controlled toy cars from RyBy Toys.In the contract,it is stipulated that RyBy Toys would transport the toy cars via FlyByNight,a national carrier service.RyBy Toys makes the arrangements and hands over the toys,minus the remote-controllers,to FlyByNight,to be delivered to Jason.In the event that the goods are destroyed in transit,which of the following parties would bear the risk of loss as per the sales contract?

In the case of an ordinary lease,if the lessor is a merchant,the risk of loss passes to the lessee ________.

The real owner of goods obtained through fraud can reclaim the goods from a good faith purchaser for value.

________ title is a situation in which a thief acquires no title to goods he or she steals.

What is the role of a financing statement in a consignment if the consignor files it?

Which of the following is true for the passage of title in a contract requiring a document of title?

Future goods other than crops and unborn young are identified when the goods are shipped,marked,or otherwise designated by the seller or lessor as the goods to which the contract refers.

Explain how the Uniform Commercial Code (UCC)mandates the identification of goods when the parties to a contract do not agree on a time and manner to do the same.

If a shipment contract specifies "F.O.B.point of shipment," the buyer is responsible for making all the shipping arrangements.

When the pricing term in a contract includes the costs of the goods and the costs of the insurance and freight,the buyer bears the loss of risk during transportation.