Use the following graph shown to fill in the table that follows.
Definitions:
Buyer in the Ordinary Course of Business
A buyer in the ordinary course of business purchases goods in good faith, without knowledge that the sale violates the rights of another person in the goods, and in the routine course of the seller’s business.
Good Faith Purchaser
An individual who buys property without knowledge of any existing claims or defects in the title of the property, thereby acquiring uncontested ownership.
Bulk Transfer
The transfer of a substantial part of the materials, inventory, or supplies of a business outside the ordinary course of business.
Ordinary Course of Business
The regular, usual, and customary activities and operations that a company engages in to conduct its business.
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