A Right Can Exist

question 59

Multiple Choice

A right can exist:

• A) by itself.
• B) only if created by a court.
• C) only if there is a corresponding duty.
• D) only under local law.

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Definitions:

Document of Title

A legal document evidencing the right to control the disposition of goods, such as a bill of lading or warehouse receipt.

Storage of Goods

The act of keeping goods in a space designated for their preservation or until they are sold or distributed.

Warranties

Promises or guarantees made by a seller regarding the quality, condition, or performance of a product.

Insurance Contracts

Legal agreements between an insurance company and a policyholder that define the claims which the insurer is legally required to pay.