Hi , I nedd help under standing this worksheet :

. A bailee is someone:

a. who is also known as a buyer or lessee and can accept title of property.

b. to whom you donate an item of personal property.

c. who temporarily cares for your personal property without passage of title.

3. When goods are held by a bailee, risk of loss passes to the buyer when any one of the following occurs: a) The buyer receives a

Select

document of title for the goods; b) The bailee

Select

the buyer's right to

Select

the goods; c) The buyer receives a

Select? document of title, and the buyer has had Select?

to present the document to the bailee and demand the goods. If the bailee

Select? to honor the document, the risk of loss remains with the seller.

4. Any party purchasing insurance must have a sufficient interest in the insured item to obtain a valid policy. Insurance lawsnot the UCCdetermine sufficiency.

a. True

b. False

5. Owen buys a light fixture from an online merchant under a contract covered by the UCC. He first receives an insurable interest in the lamp:

a. at the moment the contract was formed.

b. at the moment the goods covered by the contract are identified.

c. as soon as he takes possession of the goods.

d. at the moment the seller tenders the goods for delivery.

6. If the seller is a merchant, risk of loss to goods held by the seller passes to the buyer when the buyer signs the contract.

a. True

b. False

7. If a buyer breaches a contract, the risk of loss to

Select?goods immediately shifts to the buyer.

8. If a seller breaches a contract by supplying non-conforming goods, risk of loss will not immediately pass to the buyer.

a. True

b. False