Asked by Dustin Politte on Apr 29, 2024
Verified
Title to goods passes according to rules under the Code if the parties have no explicit agreement as to transfer of title.
Title Passes
The point at which ownership of property or goods is transferred from seller to buyer under the terms of a contract.
Code
A system of principles or rules designed to regulate behavior or conduct in a specific area.
Explicit Agreement
A clear and specific understanding or arrangement defined by express terms, typically in writing or spoken words.
- Master the concepts related to the transfer of title and the associated risk of loss under the Uniform Commercial Code.
Verified Answer
HL
Hailey LePageMay 03, 2024
Final Answer :
True
Explanation :
Under the Uniform Commercial Code (UCC), if parties to a transaction have not explicitly agreed on the transfer of title for goods, the title passes to the buyer at the time and place where the seller completes their performance with respect to the physical delivery of the goods, according to the default rules provided by the UCC.
Learning Objectives
- Master the concepts related to the transfer of title and the associated risk of loss under the Uniform Commercial Code.
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