Exam 20: A: Title,risk,and Insurable Interest

Heavy Equipment Corporation leases six forklifts to Inland Refining Company,but as the forklifts are delivered,they are lost in an explosion.Under the UCC,the parties' rights and obligations with respect to the loss depend on the concept of

Weightless Workouts,Inc. ,offers to sell a home gym to Jessica and sends it to her on a trial basis.This is

When an agreement is ambiguous as go whether it is a shipment or a destination contract,courts will normally presume that it is a destination contract.

In all circumstances,title passes to the buyer at the time and place the seller performs by delivering the goods.

If a contract calls for a lease of specific and ascertained goods already in existence,identification takes place at the time the contract is made.

Juice Café buys 25 bags of Florida navel oranges from Sweet Citrus Company.The parties agree to ship the oranges "F.O.B.Juice Café" via Fresh Harvest Truckline.The oranges rot in transit.The loss is suf?fered by

Jim's Jewelry Store orders Sho-Off-brand display racks from Kino's Merchandise Presentation,Inc.Kino's mistakenly ships racks of the wrong size and color,which Jim's rejects and returns via Longroad Shipping Company.During the re?turn,the racks are lost.The loss is suffered by

A bill of lading serves as a con?tract for the transportation of goods.

Geno's Café orders five gallons of PureMaid-brand transfat-free olive oil from Chefs Supply,Inc.Chefs mistakenly ships soy oil,which Geno's keeps,despite the nonconform?ity.The oil is destroyed in a fire.The loss is suffered by

Office Reports Corporation (ORC)orders five Zippy-brand inkjet printers from Prime Printers,Inc.(PPI),to be delivered by PPI.Before PPI's truck arrives with the goods,ORC tells PPI it will not pay.The printers are destroyed in transit.The loss is suffered by

Leo buys a Naturo-brand bicycle from his brother,Mike.Mike agrees to keep the bike at his house until Leo picks it up.During a storm,a tree falls from Ogden's yard onto Mike's garage and destroys the bike.The loss of the bike is suffered by

A contract between Kwik Import Company in Los Angeles and Macro Retail Corporation in New York does not expressly state which party bears the risk of loss but says only that Kwik is "to ship goods at the seller's expense." At what point does the risk of loss of the goods pass from the seller to the buyer?

When a bailee is holding goods that are to be delivered under a contract without being moved,the risk of loss cannot pass to a buyer.

Orange Computer Corporation sells Pad-brand MP3 players to Quik Discount Stores and other retailers.Orange will have an insurable in?ter?est in the players as long as

Gene steals Hilary's brooch and sells it to Imelda.Hilary can recover the brooch from Imelda

When a buyer breaches a contract,the risk of loss remains with the seller.

Rita orders 1,000 cases of 1/4-inch nuts from Steel Parts Company's 10,000-case lot.Steel Parts separates 1,000 cases from the lot.Title and risk of loss

Entrusting goods to a merchant who deals in goods of the kind gives the merchant power to transfer all rights to a buyer in the ordinary course of business.

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

Under the UCC,the right of ownership is the central concept in sales law.