A Sale Exists After the Buyer Takes

question 41

Multiple Choice

A sale exists after the buyer takes:

• A) the title to the goods.
• B) the risk of loss on the goods.
• C) an insurable interest in the goods.
• D) a special property interest in the goods.

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Definitions:

Property Rights

Legal rights to possess, use, and dispose of assets including real estate, personal property, and intellectual property.

Incomplete

Not having all parts or elements; lacking something.

Private Ownership Rights

Legal entitlements that allow individuals or companies to own property and assets, giving them control over use, management, and disposal.

Well Enforced

A term indicating that laws or regulations are effectively implemented and adhered to.