When Consigned Goods Are Sold by a Factor

question 14

Multiple Choice

When consigned goods are sold by a factor:

• A) When consigned goods are sold by a factor:
• B) title passes even if the goods have been stolen, provided the factor is ignorant of this fact.
• C) the sale passes the title of the owner to the buyer.
• D) strict compliance with the Federal Factors Act is required to pass title.

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Definitions:

Mental Set

A psychological tendency to approach problems in a certain way due to past experiences and successes, potentially limiting creativity.

Practical Intelligence

refers to the ability to solve everyday problems by utilizing knowledge gained from experience rather than from formal academic education.

Robert Sternberg

An American psychologist known for his theory on love and intelligence, including the Triarchic Theory of Intelligence.

Confirmation Bias

The inclination to seek out, understand, prefer, and remember information in a manner that validates one's previously held beliefs or theories.