Matches, Inc. buys $$20,000$ worth of candles from Wax Co$.$ In order to pay for the candles, Matches, Inc. takes out a secured loan from Chase Bank. The deal is considered a shipment contract. The candles are shipped using UPS.

Matches, Inc. receives the candles and tests one of the candles. The candle doesn't light properly.

Question $22(1$ point$)$

Select all of the parties that have a security interest in the candles.

Question $22$ options:

Matches, Inc.

Wax Co$.$

UPS

Chase Bank

None of the above

Question $23(1$ point$)$

Select all of the parties that have an insurable interest in the candles.

Question $23$ options:

Matches, Inc.

Wax Co$.$

UPS

Chase Bank

None of the above

Question $24(1$ point$)$

When did the risk of loss transfer?

Question $24$ options:

The risk of loss started with Matches, Inc. and transferred to Wax Co$.$ when the candles were shipped.

The risk of loss started with Wax Co$.$ and transferred to Matches, Inc. when the candles were shipped.

The risk of loss started with Matches, Inc. and transferred to Wax Co$.$ when the candles were delivered.

The risk of loss started with Wax Co$.$ and transferred to Matches, Inc. when the candles were delivered.

Question $25(1$ point$)$

Is this agreement required to be in writing?

Question $25$ options:

Yes, the contract is over $$500.$

Yes, the UCC requires all contracts for goods to be in writing.

No$,$ the UCC does not require any contracts to be in writing.

No$,$ shipment contracts are not required to be in writing.

Question $26(1$ point$)$

Given the candles will not light properly, what warranty was likely breached?

Question $26$ options:

Warranty of Title

Warranty for a Particular Purpose

Warranty of Use and Possession

Warranty of Merchantability