Exam 17: Title to Goods and Risk of Loss

Kenneth purchased a car from his local dealership,Quartent Cars.However,since the car was not available in the color that Kenneth favored,the sales contract stipulated that Kenneth could immediately pick up the car from a nearby warehouse it was housed in.The warehouse was owned by Mr.Henderson.Kenneth received the document of title for the car upon payment and presented it to Mr.Henderson around a week later.But Mr.Henderson informed Kenneth that the car was damaged during a fire in the warehouse.According to the UCC,which of the following parties holds the risk of loss for the damage caused to the car?

Explain how the Uniform Commercial Code (UCC)rejects the common law's notion of placing the risk of loss of goods on the parties to a contract.

In a sale or return contract,the risk of loss and title to the goods pass to the buyer when the buyer ________.

In which of the following cases is a buyer in breach of a sales contract?

Can a person with a voidable title transfer a good title to a buyer? If so,explain with an example.

Under Article 2A of the Uniform Commercial Code (UCC),parties to the lease contract have the right to insure their goods against losses.

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.What was the nature of the contract between Jason and RyBy Toys?

In a destination contract,when is the title to the goods considered to have passed to the buyer?

In a lease transaction,title to the leased goods remains with the ________.

Larry,a merchant seller,had contracted with Simon,to buy welding equipment.The contract stipulated that Larry would pick up the equipment from Simon's warehouse on the 14th day from the date of the contract.Larry could not make the pick up on that date and before he could do so on the 15th day,the warehouse was burned down by miscreants.In this situation,who bears the risk of loss of the goods that were to be received by Larry?

Delapaz Motors receives 10 motorcycles from a manufacturer on a sale or return basis.Delapaz pays $5,000 for each vehicle.Delapaz sells six motorcycles within a reasonable time.Two of the remaining motorcycles are damaged from a fire accident.Which of the following is true in this case?

If the parties do not have a specific agreement concerning the assessment of the risk of loss,the Uniform Commercial Code (UCC)has the power to mandate who will bear the risk of loss when goods are lost or damaged.

How do the rules for determining passage of title in a shipment contract differ from a destination contract?

In which of the following does the title to the goods pass from the seller to the buyer?

The Uniform Commercial Code (UCC)provides that title to goods can pass from seller to buyer if the goods are not identified to a sales contract.

If the lease is a finance lease and the supplier is a merchant,the risk of loss passes to the ________ on the receipt of the goods.

If goods held by a bailee are to be delivered to the buyer without the seller moving them,the risk of loss passes to the seller when the bailee acknowledges the buyer's right to possession of the goods.

Which of the following parties to a shipping contract bears the risk of loss of goods during transport?

When goods are in the possession of a holder who is neither the seller nor the buyer,the risk of loss can be passed on to the buyer or retained by the seller.Explain how.

Which of the following is true of a contract with the no-arrival,no-sale term?