Shared Flashcard Set

Details

Ch. 21
Transfer of Title and Risk of Loss
22
Law
Undergraduate 4
12/09/2011

Additional Law Flashcards

 


 

Cards

Term
Identification
Definition
Term
Fungible
Definition
Term
Security interest
Definition
Interest in personal property or fixtures that ensures payment or performance of an obligation
Term
Insurable interest
Definition
Interest in property that may be insured against loss
Term
Lien
Definition
A nonconsensual claim against property
Term
Passage of title
Definition
Term
Shipment contract
Definition
Term
Tender
Definition
Term
Power to transfer title
Definition
Term
Good faith purchaser
Definition
Term
Void title
Definition
Term
Voidable title
Definition
Term
Good faith
Definition
Term
Entrusting of goods to a merchant
Definition
Term
Buyer in ordinary course of business
Definition
Term
Entrusting
Definition
Transfer of possession of goods
Term
Risk of loss
Definition
Term
Sale on approval
Definition
Transfer of possession without title to buyer for trial period
Term
Sale or return
Definition
Sale for which buyer has option to return goods to seller
Term
Consignment
Definition
Delivery of possession of personal property to an agent for sale
Term
Physical movement of the goods
Definition
When delivery is to be made by moving the goods, title passes at the time and place that the seller completes his performance with reference to delivery
Term
Destination contract
Definition
Seller is required to tender delivery of the goods at a particular destination
Supporting users have an ad free experience!