B LAW 220 Study Guide - Final Guide: The Seller, Negotiable Instrument, Product Liability
Document Summary
Ucc 2 applies to goods movable property. If im a merchant and i have a signed writing offered to keep it open i cant revoke the offer until after 2 months. If i have a merchant plus a non-merchant it"s a contract between non merchants. 2 merchants with oral contracts goods are over 500 dollars, merchant confirms purchase, you can still reject within ten days. Risk of loss with movement of goods. a. Fob facotory -> shipping contract as soon as it leaves factory. Risk of loss without movement of goods. (who has to pay) Risk of loss passes when you can pick it up. a. b. Goods destroyed while in possession of the merchant. Contract is unenforcable destroyed or damaged but not destroyed. Miscellaneous sale on approval / sale or return / consignment. Title passes immediately on a sale of return.
