The UCC "Risk of Loss" Rules Depend on Transfer of Title

question 23

True/False

The UCC "risk of loss" rules depend on transfer of title.

Understand the concept and application of cost volume profit (CVP) analysis in decision making.

Calculate the break-even point in units and dollars.

Apply sensitivity analysis in CVP to assess changes in assumptions.

Explain the assumptions underlying CVP analysis and their implications.

---

Definitions:

Quantum Meruit

A Latin term meaning "as much as he has earned," used in legal context to denote compensation deserved for services or work done when no contract exists.

Substantial Performance

A legal concept that a contract has been completed enough to fulfill its purpose, even if all details have not been precisely met.

Anticipatory Breach

A situation in contract law where one party indicates in advance that they will not fulfill their contractual obligations.

Frustrated Contract

A contract under which performance by a party is rendered impossible due to an unexpected or unforeseen change in circumstances affecting the agreement.