What is the passage of title to goods?
What will be an ideal response?
Once the goods that are the subject of a contract exist and have been identified, title to the goods may be transferred from the seller to the buyer. Article 2 of the UCC establishes precise rules for determining the passage of title in sales contracts. Under the UCC, title to goods passes from the seller to the buyer in any manner and on any conditions explicitly agreed upon by the parties. If the parties do not agree to a specific time, title passes to the buyer when and where the seller's performance with reference to the physical delivery is completed.
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A promissory note is:
A. evidence of the debt B. evidence of a sale C. a security interest in the property for the lender D. the same as a mortgage or trust deed
Dorothy purchases a chair made by Woode Designs Inc While making the chair, the legs were not fixed properly to the base. When Dorothy sat on the chair, it broke and she was injured
In a strict liability lawsuit, which of the following can Dorothy cite as a defect in the chair? A) failure to provide adequate instructions B) defect in design C) failure to warn D) defect in manufacture