Do Revised Article 2 (Sales)and Revised Article 2A (Leases)change Any

question 14

Multiple Choice

Do Revised Article 2 (Sales) and Revised Article 2A (Leases) change any of the risk of loss rules?

• A) No, the Revised Articles do not change the risk of loss rules, but change passage of title rules.
• B) No, the Revised Articles do not change the risk of loss rules, but include rules for electronic sales and lease contracts.
• C) Yes, the Revised Articles change the risk of loss rules back to the common law rules.
• D) Yes, the Revised Articles change the risk of loss rules, so that the seller carries the risk of loss until the buyer receives the goods.
• E) Yes, the Revised Articles change the risk of loss rules, so that the common carrier bears the risk of loss of goods while they are in transit.

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Definitions:

Glass-Steagall Act

A law enacted in 1933 to separate commercial banking from investment banking, intended to reduce conflicts of interest and prevent bank failures.