Chapter 18-Work Set tract TRUE FALSE QUESTIONS Bed, 1. Identification occurs when goods are shipped by the seller. 2. Unless the parties agree otherwise, title passes at the time and place that the buyer accepts the goods. 3. Unless a contract provides otherwise, it is normally assumed to be a shipment contract. 4. A buyer and a seller cannot both have an insurable interest in the same goods at the same time. 5. In a sale on approval, the risk of loss passes to the buyer as soon as the buyer takes possession. 6. A buyer can acquire valid title to stolen goods if he or she does not know that the goods are stolen 7. Under a destination contract, title passes at the time and place of shipment. 8. If a seller is a merchant, the risk of loss passes when a ser takes physical possession of the goods diary, ed by MULTIPLE-CHOICE QUESTIONS Trans. buy. with a le for PLC 14 (20 1. Bob contracts to sell to the Marcos University Bookstore 10.000 black USB flash drives. Bob identifies the flash drives by boxing up the order, attaching labels with Marcos's address to the cartons, and leaving the boxes on the loading dock for shipping, Between Bob and Marcos, a. the risk of loss has passed with respect to all of the flash drives. b. the risk of loss has passed with respect to half of the flash drives. c. the risk of loss has passed with respect to the flash drives with labels on the boxes. d. none of the above has occurred. Aleris Deere ovided shall . The claim d that why? 2011] 2. Sam obtains his Aunt Claire's laptop computer through fraud. He then sells the computer to Jill. If Jill does not know that the computer was acquired by fraud, what title does she take? a. Jill takes voidable title, based on Sam's voidable title. b. Jill takes good title because she was a good faith purchaser. c. Jill takes valid title but may be subject to a tort claim for embezzlement. d. Jill has no title because Sam's title was void. 3. On Monday, Stan buys a mountain bike from Tom, his neighbor, who says, "Take the bike. Stan says, "I'll leave in in your garage until Friday." On Tuesday, Rosie steals the bike from Tom's garage. Who bears the risk? a. Stan. b. Tom c. Both Stan and Tom. d. Neither Stan or Tom. nction Consti hute to 4. On Monday, Craft Computers in Seattle delivers five hundred Apple iPads to Pac Transport to take to Porta under a destination contract with Connecting Point Stores. The tablets arrive in Portland on Tuesday, and Pac te Connecting Point they are at Pac's warehouse. On Thursday, the warehouse burns down. On Friday, Comesti Point learns of the fire. The risk of loss passes to Connecting Point on a. Monday. b. Tuesday. Friday d. none of the above days. by our nore es title is UCC of the require LLC# Chapter 18-Work Set tract TRUE FALSE QUESTIONS Bed, 1. Identification occurs when goods are shipped by the seller. 2. Unless the parties agree otherwise, title passes at the time and place that the buyer accepts the goods. 3. Unless a contract provides otherwise, it is normally assumed to be a shipment contract. 4. A buyer and a seller cannot both have an insurable interest in the same goods at the same time. 5. In a sale on approval, the risk of loss passes to the buyer as soon as the buyer takes possession. 6. A buyer can acquire valid title to stolen goods if he or she does not know that the goods are stolen 7. Under a destination contract, title passes at the time and place of shipment. 8. If a seller is a merchant, the risk of loss passes when a ser takes physical possession of the goods diary, ed by MULTIPLE-CHOICE QUESTIONS Trans. buy. with a le for PLC 14 (20 1. Bob contracts to sell to the Marcos University Bookstore 10.000 black USB flash drives. Bob identifies the flash drives by boxing up the order, attaching labels with Marcos's address to the cartons, and leaving the boxes on the loading dock for shipping, Between Bob and Marcos, a. the risk of loss has passed with respect to all of the flash drives. b. the risk of loss has passed with respect to half of the flash drives. c. the risk of loss has passed with respect to the flash drives with labels on the boxes. d. none of the above has occurred. Aleris Deere ovided shall . The claim d that why? 2011] 2. Sam obtains his Aunt Claire's laptop computer through fraud. He then sells the computer to Jill. If Jill does not know that the computer was acquired by fraud, what title does she take? a. Jill takes voidable title, based on Sam's voidable title. b. Jill takes good title because she was a good faith purchaser. c. Jill takes valid title but may be subject to a tort claim for embezzlement. d. Jill has no title because Sam's title was void. 3. On Monday, Stan buys a mountain bike from Tom, his neighbor, who says, "Take the bike. Stan says, "I'll leave in in your garage until Friday." On Tuesday, Rosie steals the bike from Tom's garage. Who bears the risk? a. Stan. b. Tom c. Both Stan and Tom. d. Neither Stan or Tom. nction Consti hute to 4. On Monday, Craft Computers in Seattle delivers five hundred Apple iPads to Pac Transport to take to Porta under a destination contract with Connecting Point Stores. The tablets arrive in Portland on Tuesday, and Pac te Connecting Point they are at Pac's warehouse. On Thursday, the warehouse burns down. On Friday, Comesti Point learns of the fire. The risk of loss passes to Connecting Point on a. Monday. b. Tuesday. Friday d. none of the above days. by our nore es title is UCC of the require LLC#