Examlex
For inventory that is shipped FOB shipping point,title transfers from the seller to the buyer once the seller ships the inventory.
Bailment
The act of temporarily placing control over, or possession of, personal property by one person into the hands of another, under agreement.
Reasonable Care
A legal standard implying that a person or entity should act with the caution and prudence that a reasonable person would use in similar circumstances.
Conditional Gift
A gift given with specific conditions attached, which must be fulfilled for the gift to be fully transferred to the recipient.
Engagement
A formal agreement to get married or, in business, the act of hiring services or establishing a professional relationship.
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