Mbe Contract Law: Ucc Performance Flashcards Questions And Accurate Answers Verified

MBE Contract Law: UCC Performance Flashcards questions and accurate answers verified Learn about: - Risk of Loss - Perfect Tender - Nonconforming Goods - Right to Cure - Express & Implied Warranties Q1 What is a sellers obligation under the UCC? A To transfer and deliver the goods sold 2 Q What are carrier cases? A When the parties to a contract agree to use a specified common carrier (transporter) to deliver goods.3 Q When does the risk of loss transfer from the seller to the buyer in: 1. Shipment contracts? 2. Destination contracts? A Risk of Loss in Carrier Cases: 1. Shipment Ks: Risk of loss transferred to buyer once seller delivers goods to common carrier 2. Destination Ks: Risk of loss transferred to buyer when goods are tendered at the destination 4 Q What does FOB sellers place of business mean? (sellers point of origin) AIt is a shipment K: risk of loss passes to buyer once seller delivers goods to common carrier and arranges for their shipment. 5 Q What does FOB buyers place of business mean? A It is a destination contract: risk of loss passes to the buyer after the goods are tendered at the