Terms of K Flashcards

1
Q

Article 2 provisions - gap filler

A

price
place of delivery - seller’s place of business
time for shipment or delivery
time for payment - time and place at which the buyer is to receive the goods
assortment - at the buyers option.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

noncarrier case

A

a sale in which it appears that the parties did not intend that the goods would be moved by a common carrier. In such case , if the seller is a merchant, risk of loss passes to the buyer only when she takes physical possession of the goods. If the seller is not a merchant, risk of loss passes to the buyer upon tender of delivery.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Carrier case

A

a sale in which it appears that the parties did not intend that the goods to be moved by a carrier.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

shipment k

A

if the k authorizes or requires the seller to ship the goods by carrier but does not require him to deliver them to a particular destination, it is a shipment contract and the risk of loss passes to the buyer when the goods are delivered to the carrier. Article 2 presumes this.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Sellers duties under shipment k

A

seller must

  1. make a reasonable k with the carrier on behalf of the buyer,
  2. deliver the goods to the carrier,
  3. promptly notify the buyer of the shipment
  4. provide the buyer with any documents needed to take possession of the goods.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Destination ks

A

if the k requires the seller to deliver the goods at a particular destination, the risk of loss passes to the buyer when the goods are tendered to the buyer at the destination.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Common delivery terms

A

F.O.B.

F.A.S.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

F.O.B

A

“free on board” followed by location and the risk of loss passes to the buyer at the named location. Seller bears the risk and expense of getting the goods to the named location.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

F.A.S.

A

free alongside. goods shipped by boat. risk of loss passes to the buyer once the goods are delivered to the dock.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly