SCMA 323 Lecture Notes - Lecture 23: Non-Sufficient Funds, Lawn Mower
6 Apr 2017
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10 page paper for extra credit (due in three weeks) Chapters from here on out: 19, 22, 23, 29, 30, 36, 37, 47, 48, 49, 52, 53: try to stay two chapters ahead. Two contracts: shipment: require seller to place items w/ co. Once that"s done, title of goods is passed as is risk of loss. If nothing in contract ucc will treat as shipment contract. Goods are in hands of third party. Buyer gets document/receipt/etc. saying that they are entitled to goods so third party can give up goods. Risk of loss passes when you give document explaining that goods entitled to buyer. Doesn"t pass to buyer until goods are received. If store burns down, risk of loss is on seller. Sell bicycle from store > sells lawnmower > ucc says that risk of loss passes when seller makes goods available to buyer for pick up (on buyer)
