1. 18.1 b a c kn e x t h o m e Chapter 18 Objectives u Explain the importance of determining when title and risk of loss pass. u Distinguish between a sale on approval and a sale or return. u Discuss the rule regarding attempted sales by people who do not have title to the goods, and list exceptions to the rule. © 2002 West Educational PublishingTo accompany Law for Business, 14e, by Ashcroft and Ashcroft

2. 18.2 b a c kn e x t h o m e Potential Problems in Transferring Title Ownership Insurable interest Risk of loss

3. 18.3 b a c kn e x t h o m e 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.  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. Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz

4. 18.4 b a c kn e x t h o m e Types of Sales Explain each of the following types of sales: Let’s Discuss Let’s Discuss Let’s Discuss Let’s Discuss Let’s Discuss Let’s Discuss Let’s Discuss Let’s Discuss Sales of fungible goods C.O.D. sales Auction sales F.O.B. sales

5. 18.5 b a c kn e x t h o m e Special Rules on Transfer of Title Explain each of the following situations: Estoppel Consignment sales Sale by entrustee When documents of title transfer ownership Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz When documents must be recorded or filed Voidable title