Exam 19: Ownership and Risk

A gun manufacturer in Helena,Montana agrees to sell guns and ammunition to the ATF in Washington,D.C.The terms of the contract specify that the goods are to be shipped "FOB,Chicago." When does the buyer acquire title and risk of loss?

In the case Lindholm v.Brant,the Supreme Court of Connecticut held that Brant was a buyer in ordinary course,and,as such,was entitled to keep the painting.

George's Grocery orders two dozen live lobsters from Sea Food Flyers.George's is to keep the lobsters happy by keeping them in a tank following certain instructions to keep the water at the right temperature,etc.The sale is made on a trial basis and George's may return all unsold lobsters at the end of 10 days.This contract is a:

Which of the following statements about identification is correct?

Explain the concept and significance of identification of goods.Discuss how identification takes place.

A buyer has an insurable interest in goods when they are identified.