Term
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Definition
| a contract in which the seller is required to ship the goods by carrier and deliver them at a particular destination. The seller assumes liability for any losses or damage to the goods until they are tendered at the destination specified in the contract. |
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Term
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Definition
| paper exchanged in the regular course of business that evidences the right to possession of goods ( for example, a bill lading or a warehouse receipt). |
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Term
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Definition
| goods that are alike by physical nature, by agreement, or by trade usage. examples of fungible goods are wheat, oil, and wine that are identical in type and quality. |
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Term
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Definition
a purchaser who buys without notice of any circumstance that would put a person of ordinary prudence on inquiry as to whether the seller has valid title to the goods being sold.
GFPFVWN- about article 6 |
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Term
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Definition
| in a sale of goods, the express designation of the specific goods provided for in the contract. |
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Term
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Definition
| an interest either in a person's life or well-being or in property that is sufficiently substantial that insuring against injury to (or the death of) the person or against damage to the property does not amount to a mere wagering (betting) contract. |
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Term
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Definition
| a contract in which the seller is required to ship the goods by carrier. The buyer assumes liability for any losses or damage to the goods after they are delivered to the carrier. Generally, all contracts are assumed to be shipment contracts if nothing to the contrary is stated in the contract. |
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