Lecture Business law with UCC applications (13/e): Chapter 13 - Brown, Sukys

Chapter 13 - Sales contracts: formation, title, and risk of loss. After completing this chapter, students will be able to: Define the term goods and explain the nature of a sale, explain how Article 2 of the UCC applies to contractual relationships, explain the UCC rules that relate to written contracts, explain the two laws related to cyber-sales contracts,...

Business Law with UCC Applications,13e Sales Contracts: Formation, Title, and Risk of Loss Chapter 13 McGraw­Hill/Irwin         Copyright © 2013 by The McGraw­Hill Companies, Inc. All rights reserved Learning Objectives Define the term goods and explain the nature of a sale Explain how Article of the UCC applies to contractual relationships Explain the UCC rules that relate to written contracts Explain the two laws related to cyber-sales contracts Contrast an auction with reserve with an auction without reserve 13­2 Learning Objectives (cont.) Explain title, void title, and voidable title Determine when title of goods passes from seller to buyer Decide when the buyer or seller must bear the risk of loss Compare a sale on approval with a sale or return 10.Define an insurable interest 13­3 Sales Contracts: Formation, Title, and Risk of Loss • The Sale and Lease of Goods – Sales of Goods – Leases of Goods – Goods and Services 13­4 Sales Contracts: Formation, Title, and Risk of Loss • Rules for Sales Contracts – Good Faith, Course of Dealings, and Usage of Trade – Formation of a Sales Contract 13­5 Sales Contracts: Formation, Title, and Risk of Loss • Formation of a Sales Contract – Offer and acceptance – Firm offer – Open-price terms – Output and requirements terms – Additional terms in acceptance – Modification 13­6 Sales Contracts: Formation, Title, and Risk of Loss • The Form of a Sales Contract – The Written Sales Contract – Cyber-Sales Contracts – International Law – Auction Sales and Cyber-Auction Fraud 13­7 Sales Contracts: Formation, Title, and Risk of Loss • The Written Sales Contract – Exceptions to the general rule – Oral contracts between merchants – Specially manufactured goods – Admissions in court – Executed contracts – Requirements of writing – Signature requirements 13­8 Sales Contracts: Formation, Title, and Risk of Loss • Cyber-Sales Contracts – The E-Sign Act – The Uniform Electronic Transactions Act (UETA) 13­9 Sales Contracts: Formation, Title, and Risk of Loss • Title, Passage of Title, and Risk of Loss – Valid Title, Void Title, and Voidable Title – Passage of Title and Risk of Loss 13­10 Sales Contracts: Formation, Title, and Risk of Loss • Valid Title, Void Title, and Voidable Title – Entrusting goods to a merchant 13­11 Sales Contracts: Formation, Title, and Risk of Loss • Passage of Title and Risk of Loss – Shipment contracts – Destination contracts – No delivery required – Fungible goods – Documents of title – Agreement of the parties – Revesting of title in seller – International sales 13­12 Sales Contracts: Formation, Title, and Risk of Loss • Sales, Returns, and Insurable Interest – Sale on Approval – Sale or Return – Insurable Interest 13­13 ... the UCC applies to contractual relationships Explain the UCC rules that relate to written contracts Explain the two laws related to cyber-sales contracts Contrast an auction with reserve with. .. Form of a Sales Contract – The Written Sales Contract – Cyber-Sales Contracts – International Law – Auction Sales and Cyber-Auction Fraud 13? ?7 Sales Contracts: Formation, Title, and Risk of Loss... Signature requirements 13? ?8 Sales Contracts: Formation, Title, and Risk of Loss • Cyber-Sales Contracts – The E-Sign Act – The Uniform Electronic Transactions Act (UETA) 13? ?9 Sales Contracts: