Examlex
Research has shown that all of the following are true about traits EXCEPT
Warranty of Title
A legal guarantee provided by a seller to a buyer that the seller has the right to transfer ownership and no hidden liens or encumbrances exist.
Risk of Loss
The financial risk borne by a party in the event that goods are lost, damaged, or destroyed during transportation or storage.
Sale or Return
A sales agreement allowing the buyer to return unsold goods to the seller without obligation within a specified period.
On Approval
"On approval" is a transaction condition allowing a buyer to take possession of goods before deciding to complete the purchase, subject to the goods’ return if not satisfied.
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