When, at the Time of Contracting, the Goods Are in the Hands

question 15

Multiple Choice

When, at the time of contracting, the goods are in the hands of a third-party bailee and are covered by a document of title, the risk passes to the buyer when he or she:

• A) takes possession of the goods.
• B) receives the document of title.
• C) acknowledges the third-party bailee's right to possession.
• D) indulges in a breach of contract.

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Definitions:

Execution Searches

Investigations conducted to determine if there are any outstanding legal judgments or executions against a property or individual.

Zoning Searches

Investigations into the zoning regulations applicable to a particular parcel of real estate to determine permissible uses.

Environmental Audit

A systematic, documented examination and evaluation of a facility's or organization’s environmental performance.

Title Search

A legal check on the history of ownership of a property to ensure there are no liens, encumbrances, or legal issues before its purchase.