Exam 19: Title and Risk of Loss

Silky Material Corporation in New Jersey sells fifty tons of fabric to Tattered Clothing,Inc.,in Ohio,"F.O.B.New Jersey." The cost of transport?ing the fab?ric to Ohio will be paid by

With a bill of lading,Cartage Common Carrier Company acknowledges possession of certain goods and contracts to deliver them.Cartage is

Alaskan salmon that fill the hold of Bill and Carla's fishing boat are fungible if the salmon are

A receipt issued by a warehouser for goods stored in a warehouse is a warehouse receipt.

A bailee is a buyer or lessee.

Elizabeth buys a car from Silas,who is 16 years old.Elizabeth then wants to sell the car to her neighbor,John.Elizabeth's title to the car is

If a sale involves crops that are to be harvested within twelve months,iden?tification takes place when the seeds for the crops are purchased.

Fits Like A Glove Shoes,Inc.,and Retail Footwear Stores enter into a contract for a sale of shoes.The contract indicates that the price includes transportation costs to a specific destination by including the term

Bill orders 1,000 nails from Super Hardware,Inc.Super Hardware keeps its nails in packages of 100,000.Bill and the agent for Super Hardware both sign the contract for the sale of the nails on Monday.The agent separates 1,000 nails on Wednesday.The agent delivers the nails to Bill on Thursday morning,and Bill pays for the nails on Friday.Identification of the nails took place on

Raw Material,Inc.,and Sewn Fabric Corporation enter into a contract for a sale of muslin.The terms do not clearly indicate whether it is a destination or shipment contract.A court would most likely presume that it is

A seller with voidable title can transfer good title to a good faith purchaser for value.

In most situations involving sales,rights and liabilities are determined by who has the title to the goods.