Exam 19: Title to Goods and Risk of Loss

A consignment is treated as a sale or return contract under the UCC.

When is a buyer in breach of a sales contract?

Which of the following could contain the term "no-arrival,no-sale" in their contract?

In a sale or return contract,the buyer has the option of returning all the goods to the seller.

Nebula Crystals,a firm in New York that manufactures crystal figurines,was contracted by Ruth from Florida to deliver a thousand such crystal figurines.The contract required the firm to deliver and tender the goods alongside the vessel SS Dew Express at the New York harbor.Which of the following shipment term expresses such conditions?

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

In a sale or return contract,the risk of loss and title is with the seller even when the buyer takes possession of the goods.

Thomas signed a sales contract with Bricklay's,a firm that supplies bricks for private individuals.The contract specified the type and amount of bricks needed,and that Thomas would pick up the bricks from the Bricklay's warehouse 15 days later.Thomas received a document of title,but failed to pick up the goods on the stipulated date.In this scenario,at what point of time is the title to goods passed over to Thomas?

An undeveloped real estate property is an example of future goods.

A seller has voidable title interest to goods if he or she obtained the goods through fraud.

From the following options,identify the commonly used shipping term that calls for the seller to arrange to ship the goods and put the goods in the carrier's possession.

In the case of an ordinary lease,if the lessor is a merchant,the risk of loss remains with the lessor even after the lessee receives the goods.

In a lease transaction,title to the leased goods passes to the lessee.

Jason orders one hundred remote-controlled toy cars from RyBy Toys.In the contract,it is stipulated that RyBy Toys will transport the toy cars via FlyByNight,a national carrier service.RyBy Toys makes the arrangements and hands over the toys to FlyByNight without the remote-controllers.Which of the following is a breach of contract?

Article 2 of the Uniform Commercial Code establishes precise rules for determining the passage of title in sales contracts.

In a no-arrival,no-sale contract,the seller is not required to deliver replacement goods to the buyer.

In an F.O.B.place of destination,the buyer has to bear the expense and risk of loss until the goods are tendered at the place of destination.

Article 2 of the Uniform Commercial Code (UCC)adopts rules for risk of loss that are closely tied to title.

A consignment deal would be an example of a(n)________.

A shipment contract requires the seller to deliver goods to a destination specified in the sales contract.