Question

1. Fill in the blank with the correct type of title as described in Chapter 22. a) This type of title is not true title. Someone who purchases stolen goods has this title. b) This type of title occurs in certain situations in which the contract between the original parties would be void but the goods have already been sold to a third party. c) This type of title is acquired from someone who already owns the goods free and clear. 2. Fill in the blank with the correct legal term. _refers to transfer of title. _refers to a situation when goods may be used as collateral for a debt. _refers to who has the risk of loss, which matters whe someone is seeking indemnification for damaged goods. refers to the right to insure goods against any risk d) exposure. 3. (TRUE/FALSE) A buyer gets only voidable title if the buyer and seller agreed that title would not pass until some later time. 4. Fill in the blank with the correct type of sales contract. a) This type of contract occurs when goods are delivered to the buyer via a common carrier, s as a trucking line. b) This type a contract occurs when the purchased goods are in some kind of storage under th control of a third party. c) This type of contract occurs when the purchased goods are transferred to the buyer from th seller at either the time of the sale or sometime later by the seller's delivery. d) This type of contract occurs when the sale itself is contingent on approval, for example.

Answer 1

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Answer 1
a.	Void Title
b.	Voidable Title
c.	Good Title
Answer 2
a.	Conveyance
b.	Encumbrance
c.	Indemnity
d.	Insurable Interest
Answer 3	True.
Answer 4
a.	Common-carrier delivery contract
b.	Goods-in-bailment contract
c.	Simple delivery contract
d.	Conditional sales contract