1. 1.1 18.1 Law for Business, 15e by Ashcroft Chapter 18: Transfer of Title and Risk in Sales Contracts Law for Business, 15e, by Ashcroft, © 2005 West Legal Studies in Business, a Division of Thomson Learning

2. 18.2 Chapter 18 Objectives  Explain the importance of determining when title and risk of loss pass.  Distinguish between a sale on approval and a sale or return.  Discuss the rule regarding attempted sales by people who do not have title to the goods, and list exceptions to the rule.

3. 18.3 Potential Problems in Transferring Title Ownership Insurable interest Risk of loss

4. 18.4 Transfer of Title and Risk When does title or risk pass for the following:  Goods identified at the time of contracting and not being transported.  Future goods that will be shipped.  Unidentified goods that have been destroyed. Activity

5. 18.5 Transfer of Title and Risk (answers)  Goods identified at time of contracting and not being transported. Passes to buyer at time and place of contracting.  Future goods that will be shipped. Passes to buyer when goods are delivered to carrier.  Unidentified goods that have been destroyed. Risk passes to seller. Activity

6. 18.6 Types of Sales Sales of fungible goods C.O.D. sales Auction sales F.O.B. sales International Sales

7. 18.7 Special Rules on Transfer of Title  Sale by entrustee  Consignment sales  Estoppel  When documents of title transfer ownership  When documents must be recorded or filed  Voidable title

8. 1.8 18.8 Do you have a good understanding of transfer of title?