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Exam 16: Transfer of Title

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Question 1

True/False

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Fungible goods are those that are generally sold by weight or measure.

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verified

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Question 2

Multiple Choice

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For title to pass by estoppel, the purchaser needs to prove all of the following EXCEPT that:

A) the purchase was made in good faith.
B) the purchase was made from one with rightful possession.
C) no consideration or value was given by the buyer.
D) the value was given by the buyer for which he now claims ownership.

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C

Question 3

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When a sales contract provides that specific conditions must be met after title has passed, it is said to contain a condition:

As representatives of the owner of the goods, the individuals who have the right to make legitimate sales are known as) :

Situations of wrongful possession occur when property, such as stolen goods, is transferred without the permission of the owner.

A receipt for goods that are to be shipped is known as a:

Legal disputes often involve the determination of who holds the title when a(n) :

A negotiable order bill of lading can be used to ensure that the carrier will not deliver the goods until the receiver surrenders the original copy of the order bill of lading to the:

It is not possible for title to goods to be passed by a nonowner who does not have title.

If the owner of goods entrusts proof of ownership to someone in possession of the goods, the goods cannot be recovered by the true owner from an innocent purchaser.

A person who finds an article has good title against anyone EXCEPT the:

A bill of sale is an example of how a title may be:

Wheat, sugar and flour are sold by weight and measure and are examples of:

Real estate, also known as ____________, is land and all articles permanently attached to it, such as buildings and trees.

A negotiable warehouse receipt, like the negotiable order bill of lading, requires that the original copy be presented to the warehouser before the goods will be surrendered to someone claiming them.

A sale, in which contract provisions specify conditions that must be met by one of the parties, is called a(n) :

A legal bar to the use of contradictory words or acts in asserting a claim against another is known as:

What are the various methods by which title passes?

A salesperson of the titleholder of certain merchandise may sell the products of the titleholder because he has ___________ permission of the titleholder.

When property, such as stolen goods, is transferred without the permission of the owner, then it amounts to: