Why Is the Determination of When Ownership Is Transferred Important

question 68

Multiple Choice

Why is the determination of when ownership is transferred important in the context of contracts for the sale of goods?

• A) because of the historic legal maxim 'risk follows title'
• B) because goods can be possessed without being owned
• C) because the right to sue ends when title passes to the buyer
• D) because the goods must be paid for when title passes to the buyer

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Definitions:

Coefficient Of Determination

A statistical measure, often denoted as R^2, that represents the proportion of the variance in the dependent variable predictable from the independent variable(s).

Positive Value

A numerical quantity greater than zero, indicating a magnitude or amount in the absence of direction or dimension.

Error Term

The part of an observation in regression analysis that the model does not explain, often considered as random noise.

Expected Value

The predicted average of a random variable, calculated by multiplying each possible outcome by its probability and summing the results.