With a Simple Delivery Contract,when Does Title Transfer to the Buyer

question 29

Multiple Choice

With a simple delivery contract,when does title transfer to the buyer?

• A) When money is transferred
• B) When the items are delivered
• C) When the buyer takes possession
• D) One day after goods are identified to the contract
• E) When goods are identified to the contract

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Definitions:

Requirements Contract

A contract in which the seller agrees to supply all of the buyer's needs for a particular good or service over a specified period.

Output Contract

An agreement in which a seller agrees to sell all of its production to a single buyer, typically used to ensure a steady market for the seller's product.

Promissory Estoppel

An equitable doctrine that prevents a party from going back on a promise even if a legal contract does not exist, provided that the promisee has relied on that promise to their detriment.

UCC

Stands for Uniform Commercial Code, which is a comprehensive set of laws governing all commercial transactions in the United States.