1.Define “risk of loss” under the UCC.
2.The UCC separates the question of title from questions of rights and obligations of the parties. What three requirements does the UCC impose before title or “risk of loss” can pass from the seller to the buyer?
3.What are some examples of “future goods” under the UCC?
4.What is “imperfect title,” and what is the UCC rule if a seller conveys “imperfect title” to a buyer?
5.
If a seller is shipping goods to a buyer, when does Risk of Loss pass to the buyer?
6.Describe a bailment, and when does Risk of Loss pass to the buyer in a bailment situation?
7.What are the rights and requirements of a buyer in a “Sale on Approval” contract (type of conditional sale) under the UCC?
8.
Describe the concept of “insurable interest” under the UCC. What are the requirements for having an insurable interest?
9.Who bears the risk of loss when a party breaches a sales contract under the UCC if the goods are non-conforming?
10.Explain the UCC requirements for a “buyer in the ordinary course” of business to acquire ownership rights under the Entrustment Rule.
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