Business Law BUS 3301 VII Question 11 Have you ever bought something, paid for it, and arranged to have it delivered to you at a later date? That is

Business Law BUS 3301 VII Question 11

Have you ever bought something, paid for it, and arranged to have it delivered to you at a later date? That is a fairly typical transaction, and, under the Uniform Commercial Code (UCC), a delivery contract is created. However, it is a little complicated to determine when you become the complete owner of the thing purchased.

 

First, when the contract is made and the purchase price is paid, the title to the item purchased is transferred to you, the purchaser. The UCC says that title is ownership, so you become the owner when the contract is signed and the purchase price is paid. However, only when the item purchased is actually delivered to you does the risk of loss pass to you.

 

Why is that two-step process (i.e., [1] title is transferred to you when the purchase price is paid, and [2] then risk of loss is transferred to you when the good is delivered to the purchaser) necessary or helpful?

 

Your response must be at least 200 words in length.

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

KRYSTEL BERGHER PROFILE Accomplished Customer Service Expert committed to the delivery of quality service. Professional and Ethical.

KRYSTEL BERGHER PROFILE Accomplished Customer Service Expert committed to the delivery of quality service. Professional and Ethical. Seeking to assist or help a new customer service department in creating and achieving the much-needed customer service goals. CONTACT ADDRESS: 15851 Southwest 139th Place, Miami FL 33177. PHONE: 305-992-6010 EMAIL: [email protected] om

Business Law BUS 3301 VII Question 12 The principal agent relationship, the employer-employee relationship, and the employer-independent contractor

Business Law BUS 3301 VII Question 12 The principal agent relationship, the employer-employee relationship, and the employer-independent contractor relationship are three types of agency relationships commonly found in business settings. Why is it important for business professionals to know what type of agency relationship they are forming?   Your response must

pfa TASK 1: By Tuesday Evening Reflection and Discussion Forum Week 3

pfa TASK 1: By Tuesday Evening Reflection and Discussion Forum Week 3 Assigned Readings: Chapter 8. Understanding Markets and Industry Changes. Chapter 9. Market Structure and Long-Run Equilibrium. Chapter 10. Strategy: The Quest to Keep Profit from Eroding. Initial Postings: Read and reflect on the assigned readings for the week.