Examlex
Factor by grouping.
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Risk Of Loss
A legal term referring to the responsibility for damage or loss of goods, typically determining who bears the risk at various points during a transaction.
Possession
The state or fact of owning or holding something in one’s control, typically physical objects, but can also refer to rights.
UCC
The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, aimed at harmonizing the law of sales and other commercial transactions.
Common Law
A legal system characterized by judicial decisions based on customs and prior judicial judgments, rather than by written statutes or codes.
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