Business Law II - Professor Sharma (Lecture 1, Chapter 19 - 01.31.2015) скачать в хорошем качестве

Business Law II - Professor Sharma (Lecture 1, Chapter 19 - 01.31.2015)

Business Law II: Professor Sharma Lecture #1, Chapter 19 Chapter 19: Formation of Sales and Lease Contracts Date: January 31, 2015 Please visit our website at http://raw.rutgers.edu Time Stamps: 0:20 Identification of Goods and Passage of Title 13:32 Risk of Loss Where There Is No Breach of the Sales Contract 26:35 Risk of Loss Where There Is A Breach of the Sales Contract 29:45 Risk of Loss in Conditional Sales 37:09 Risk of Loss: Lease Contracts 38:24 Sale of Goods by Nonowners 49:02 Case 19.1: Entrustment Rule Summary of Lecture: Identification of goods is distinguishing of the goods named in a contract from the seller's or lessor's other goods. Already existing goods are identified when a contract is made and names the specific goods sold or leased. The title is a legal, tangible evidence of ownership of goods. The title cannot pass until goods exist and have been identified. The title passes upon terms agreed to in contract. If no terms are stated, title passes when delivery is completed. The shipment contract is when a seller makes proper shipping arrangements and deliver goods into carrier's hand. The destination contract is when the seller delivers goods either to buyer's place of business or another specified destination. The delivery of goods without moving them requires the buyer to pick up the goods from the seller. If the document of title or bill of lading is required, the title passes when the seller delivers the document. If no document of title and goods are identified, the title passes at the time of contracting. Carrier cases is when there's a movement of goods. For shipment contracts, the risk of loss passes to buyer when seller delivers the conforming goods to the carrier. For destination contracts, risk of loss passes to buyer when seller delivers the conforming goods to the specified destination. Noncarrier cases is when there's no movement of goods. For the merchant seller, risk of loss passes to buyer when buyer receives the goods. For a non merchant seller, risk of loss passes to buyer upon tender of delivery. Goods in possession of a bailee is when the buyer receives negotiable document of title, or the bailee acknowledges buyer's right to possession, or the buyer receives a nonnegotiable document of title and has reasonable time to demand goods. Seller in breach of a sales contract is when the seller retains risk of loss on the delivery of nonconforming goods to the buyer. The risk of loss remains on the seller until the defect or nonconformity is cured, or the buyer accepts the nonconforming goods. A consignment is when a seller (consignor) delivers goods to buyer (consignee) to sell, and the consignee is paid a fee for selling goods on behalf of the consignor. In ordinary lease, risk of loss retained by lessor. In case of finance lease, risk of loss passes to lessee. If tendered goods are nonconforming, risk of loss remains with the lessor or the supplier until cure or acceptance. A void title is a situation in which a thief acquires no title to goods he or she steals. The buyer does not obtain good title to stolen goods. Lessee has no leasehold interest in stolen goods. For fraudulently obtained goods, a seller or lessor has voidable title or voidable leasehold interest to goods obtained by fraud, a check that is later dishonored, or impersonation of another person. The entrustment rule says, if the owner entrusts the possession of his/her goods to a merchant who deals in goods of that kind, the merchant has the power to transfer all rights in the goods to a buyer in the ordinary course of business. The real owner cannot reclaim the goods from this buyer. Please subscribe to our channel to get the latest updates on the RU Digital Library. To receive additional updates regarding our library please subscribe to our mailing list using the following link: http://rbx.business.rutgers.edu/subsc...