Book Opener

Consider the key terms in the list below. Then use these terms tocomplete the following exercises.auction without reservebill of ladingbulk transfercarriercontract to selldestination contractdigital signaturedocument of titlee-commerceelectronic signaturefirm offerf.o.b.future goodsgoodsidentified goodsmerchantoutput contractpricerequirement contractrisk of losssaleshipment contracttitleUniform Commercial Codeusage of tradevoidable titlewarehouse receiptSelf-Check Quiz Visitthe UnderstandingBusiness and PersonalLaw Web site atubpl.glencoe.com andclick on Chapter 13:Contracts for the Saleof Goods—Self-CheckQuizzes to prepare forthe chapter exam.1. Write 8 to 10 sentences, using as many of these legal terms as possible.2. Rewrite the sentences, leaving a blank line in place of the legal term.3. Working with a partner, see how many of each other’s sentences you can complete correctly.Answer the following questions. Refer to the chapter for additional reinforcement.4. When does the passage of title generally occur?5. What does it mean to have the risk of loss? Do passage of title and risk of loss occurat the same time?6. How may an offer for the sale of goods be accepted?7. Under the law of sales, what does the term goods mean?8. What is an output contract? a requirements contract?9. When must a contract for the sale of goods be in writing? What are the fourexceptions to this requirement?10. To what does the law of sales apply, as defined by the UCC?11. What are seven special rules for contracts for the sale of goods?12. When a contract for the sale of goods is breached, what remedies are available to theseller? to the buyer?13. When does the risk of loss pass to the buyer?Chapter 13: Contracts for the Sale and Lease of Goods 289