Question 1

Title and risk of loss can pass to the buyer from the seller before the goods are identified to the contract.

Accepted Answer

A) True 
 B)False

Question 2

Household Appliance Corporation sells Ideal-brand vacuum cleaners to Jolly Discount Stores and other retailers.Household Appliance will have an insurable interest in the vacuums as long as​

Accepted Answer

A)   ​Household Appliance remains in business. 
B)   ​Household Appliance retains title to the goods. 
C)   ​the goods are in existence. 
D)   ​there is no risk of loss.E) A) and B)
F) B) and C)

Question 3

Roasters Corporation and Outdoor Barbecues,Inc.,enter into a contract for a sale of a commercial grill.The contract requires Roasters to deliver the goods to Speedy Delivery Company for transport to Outdoor.Risk of loss passes to Outdoor when​

Accepted Answer

A)   ​Roasters delivers the goods to Speedy. 
B)   ​Roasters and Outdoor enter into their contract. 
C)   ​Speedy transports the goods to Outdoor. 
D)   ​Outdoor begins to use the grill.E) All of the above
F) B) and C)

Question 4

If the goods are so nonconforming that the buyer has the right to reject them,the risk of loss does not pass to the buyer.

Accepted Answer

A) True 
 B)False

Question 5

If a buyer accepts a shipment of goods and later discovers a defect,acceptance cannot be revoked.

Accepted Answer

A) True 
 B)False

Question 6

If a seller is not a merchant,and the goods are not to be moved,the risk of loss passes to a buyer on tender of delivery.

Accepted Answer

A) True 
 B)False

Question 7

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​

Accepted Answer

A)   valid.​ 
B)   voidable. 
C)   ​void. 
D)   ​good.E) A) and C)
F) All of the above

Question 8

Candy Corporation orders Delicioso-brand chocolate from Edibles Distribution Company.Edibles identifies the goods.Before they are shipped to Candy Corporation,an insurable interest in the goods exists in​

Accepted Answer

A)   ​Candy Corporation and Edibles Distribution. 
B)   ​Delicioso and Edibles Distribution. 
C)   ​Candy Corporation and Delicioso. 
D)   ​all of the parties as tenants in common.E) A) and B)
F) All of the above

Question 9

Varoom Motors,Inc.,allows Weber to take a Xtrem-brand motorcycle for a "test run." Weber tries the cycle for a few hours,returns,and buys it.This is​

Accepted Answer

A)   ​a bailment. 
B)   ​a lease. 
C)   ​a sale on approval. 
D)   ​a sale or return.E) A) and D)
F) C) and D)

Question 10

Mountainside Coffee Company and Nature's Cuisine,Inc.,enter into a contract for a sale of coffee beans.The contract includes the term "F.O.B.Ocean City," which is the location of Nature's Cuisine.This means that the contract is

Accepted Answer

A)   ​a bill of lading. 
B)   ​a destination contract. 
C)   ​a shipment contract. 
D)   ​a warehouse receipt.E) All of the above
F) B) and C)

Question 11

Ursula buys a Verismooth boat from a Watercraft store,which agrees to keep the boat for Ursula until she picks it up.Before Ursula gets the boat,an unforeseen tornado destroys the store and the boat.The loss of the boat is suffered by​

Accepted Answer

A)   ​Ursula. 
B)   ​Verismooth. 
C)   ​Watercraft. 
D)   ​the government agency that failed to foresee the tornado.E) C) and D)
F) A) and B)

Question 12

Commercial Rents Corporation agrees to lease a pressure washer to Delivery Trucks,Inc.,which agrees to pick it up at E Street Warehouse.Before Delivery Trucks retrieves the washer,it is stolen.The loss is suffered by​

Accepted Answer

A)   ​Commercial Rents. 
B)   ​Delivery Trucks. 
C)   ​E Street Warehouse. 
D)   ​the thief.E) All of the above
F) A) and D)

Exam 19: Title and Risk of Loss

Varoom Motors,Inc.,allows Weber to take a Xtrem-brand motorcycle for a "test run." Weber tries the cycle for a few hours,returns,and buys it.This is

Correct Answer
verified

If a seller is not a merchant,and the goods are not to be moved,the risk of loss passes to a buyer on tender of delivery.

Correct Answer
verified

Ursula buys a Verismooth boat from a Watercraft store,which agrees to keep the boat for Ursula until she picks it up.Before Ursula gets the boat,an unforeseen tornado destroys the store and the boat.The loss of the boat is suffered by

Correct Answer
verified

Candy Corporation orders Delicioso-brand chocolate from Edibles Distribution Company.Edibles identifies the goods.Before they are shipped to Candy Corporation,an insurable interest in the goods exists in

Correct Answer
verified

Roasters Corporation and Outdoor Barbecues,Inc.,enter into a contract for a sale of a commercial grill.The contract requires Roasters to deliver the goods to Speedy Delivery Company for transport to Outdoor.Risk of loss passes to Outdoor when

Correct Answer
verified

Household Appliance Corporation sells Ideal-brand vacuum cleaners to Jolly Discount Stores and other retailers.Household Appliance will have an insurable interest in the vacuums as long as

Correct Answer
verified

If the goods are so nonconforming that the buyer has the right to reject them,the risk of loss does not pass to the buyer.

Correct Answer
verified

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

Correct Answer
verified

Title and risk of loss can pass to the buyer from the seller before the goods are identified to the contract.

Correct Answer
verified

Mountainside Coffee Company and Nature's Cuisine,Inc.,enter into a contract for a sale of coffee beans.The contract includes the term "F.O.B.Ocean City," which is the location of Nature's Cuisine.This means that the contract is

Correct Answer
verified

If a buyer accepts a shipment of goods and later discovers a defect,acceptance cannot be revoked.

Correct Answer
verified

Commercial Rents Corporation agrees to lease a pressure washer to Delivery Trucks,Inc.,which agrees to pick it up at E Street Warehouse.Before Delivery Trucks retrieves the washer,it is stolen.The loss is suffered by

Correct Answer
verified

Exam 19: Title and Risk of Loss

Varoom Motors,Inc.,allows Weber to take a Xtrem-brand motorcycle for a "test run." Weber tries the cycle for a few hours,returns,and buys it.This is​

Correct AnswerverifiedShow Answer

If a seller is not a merchant,and the goods are not to be moved,the risk of loss passes to a buyer on tender of delivery.

Correct AnswerverifiedShow Answer

Ursula buys a Verismooth boat from a Watercraft store,which agrees to keep the boat for Ursula until she picks it up.Before Ursula gets the boat,an unforeseen tornado destroys the store and the boat.The loss of the boat is suffered by​

Correct AnswerverifiedShow Answer

Candy Corporation orders Delicioso-brand chocolate from Edibles Distribution Company.Edibles identifies the goods.Before they are shipped to Candy Corporation,an insurable interest in the goods exists in​

Correct AnswerverifiedShow Answer

Roasters Corporation and Outdoor Barbecues,Inc.,enter into a contract for a sale of a commercial grill.The contract requires Roasters to deliver the goods to Speedy Delivery Company for transport to Outdoor.Risk of loss passes to Outdoor when​

Correct AnswerverifiedShow Answer

Household Appliance Corporation sells Ideal-brand vacuum cleaners to Jolly Discount Stores and other retailers.Household Appliance will have an insurable interest in the vacuums as long as​

Correct AnswerverifiedShow Answer

If the goods are so nonconforming that the buyer has the right to reject them,the risk of loss does not pass to the buyer.

Correct AnswerverifiedShow Answer

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​

Correct AnswerverifiedShow Answer

Title and risk of loss can pass to the buyer from the seller before the goods are identified to the contract.

Correct AnswerverifiedShow Answer

Mountainside Coffee Company and Nature's Cuisine,Inc.,enter into a contract for a sale of coffee beans.The contract includes the term "F.O.B.Ocean City," which is the location of Nature's Cuisine.This means that the contract is

Correct AnswerverifiedShow Answer

If a buyer accepts a shipment of goods and later discovers a defect,acceptance cannot be revoked.

Correct AnswerverifiedShow Answer

Commercial Rents Corporation agrees to lease a pressure washer to Delivery Trucks,Inc.,which agrees to pick it up at E Street Warehouse.Before Delivery Trucks retrieves the washer,it is stolen.The loss is suffered by​

Correct AnswerverifiedShow Answer

Varoom Motors,Inc.,allows Weber to take a Xtrem-brand motorcycle for a "test run." Weber tries the cycle for a few hours,returns,and buys it.This is

Correct Answer
verified

Correct Answer
verified

Ursula buys a Verismooth boat from a Watercraft store,which agrees to keep the boat for Ursula until she picks it up.Before Ursula gets the boat,an unforeseen tornado destroys the store and the boat.The loss of the boat is suffered by

Correct Answer
verified

Candy Corporation orders Delicioso-brand chocolate from Edibles Distribution Company.Edibles identifies the goods.Before they are shipped to Candy Corporation,an insurable interest in the goods exists in

Correct Answer
verified

Roasters Corporation and Outdoor Barbecues,Inc.,enter into a contract for a sale of a commercial grill.The contract requires Roasters to deliver the goods to Speedy Delivery Company for transport to Outdoor.Risk of loss passes to Outdoor when

Correct Answer
verified

Household Appliance Corporation sells Ideal-brand vacuum cleaners to Jolly Discount Stores and other retailers.Household Appliance will have an insurable interest in the vacuums as long as

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Commercial Rents Corporation agrees to lease a pressure washer to Delivery Trucks,Inc.,which agrees to pick it up at E Street Warehouse.Before Delivery Trucks retrieves the washer,it is stolen.The loss is suffered by

Correct Answer
verified