Law Ch 13 Lesson 1-2

What are the advantages of a bill of sale?

A bill of sale makes resale of the property easier because it provides the owner with written evidence of ownership.

What is a sake and how does the UCC govern the sale of goods?

A sale is a contracts in which ownership of goods transfers immediately from the seller to the buyer for a price. You can sell goods in the future.

Compare the status of a casual seller with that of a merchant

Casual sellers don't sell regularly

What are the four situations in which the Statute of Frauds would not apply?

Goods received and accepted by the buyer Buyer pays for goods and seller accepts payment Goods specially made not suitable for others The party against the enforcement admits oral contract was made

Under what circumstances does the UCC provide that court may find a contract or a clause of a contract unconscionable?

If the contract of clause an honest persons conscience and sense of justice

How do merchants differ casual buyer in a sales situation?

The UCC holds merchants to a higher standard of conduct that it does casual seller because casual sellers do not deal regularly in the type of goods being exchanged but, merchants do.

How does the UCC treat the unconscionable contracts and contract of adhesion?

The UCC may refuse to enforce the contact, enforce the contract without the unconscionable clause, or limit the the causes's application so that the contract is no longer unfair

Give an example of a contract that is a sale.

You can buy anything.

Give an example of a contract that is not a sale.

You can buy property.

Ownership

a collection of rights that allow the use and enjoyment of property

Vendee

buyer in sales of hoods and contracts to sell

Receipt of Goods

buyer take physical possession or control of the goods

Price

consideration for a contract to sell or sale of goods

Sale

contract in which ownership of goods transfers from the seller to a buyer for a price

Payment

delivery of the agreed-upon price and the concurrent acceptance of it by the seller

Barter

exchange of goods for goods

Goods

items of tangible, moveable, personal property

Bill of Sale

receipt that serves as written evidence of the transfer of ownership of goods

Vendor

seller in the sales of goods and contracts to sell

Merchant

seller who deals regularly in a particular type of goods or who claims special knowledge in a certain type of sales transaction

Casual Seller

seller who does not meet the definition of merchant

Delivery

subject matter of the contract is placed within the possession or control of the owner

Contract to Sell

transaction in which transfer is to take place in the future

How is the Statute of Frauds applied to sales?

under certain circumstances, oral contracts for the sale of goods valued at 500 dollars or more may be valid.