Under the common law, a written contract must be signed by the party against whom enforcement is sought.

Kenneth purchased a car from his local dealership, Quartent Cars. However, since the car was not available in the color that Kenneth favored, the sales contract stipulated that Kenneth could immediately pick up the car of his preferred color from a nearby warehouse. The warehouse was owned by Mr. Henderson. Kenneth received the document of title for the car upon payment and presented it to Mr. Henderson a week later. But Mr. Henderson informed Kenneth that the car was damaged during a fire at the warehouse. If Mr. Henderson had refused the document of title provided by Kenneth, who would have borne the risk of loss to the car?

The garnishor is the party that is in possession of the debtor’s property.

Steve brings his watch to Knell Watches to be repaired. Knell Watches sells and repairs watches. Steve entrusts his watch at Knell’s until it is repaired. The watch store repairs the watch, but then sells it to Kevin, who buys the watch with a fraudulent check that bounced. Kevin then resells the watch to his friend Jonathan, who is unaware of the stolen nature of the watch. Who can legally claim ownership over the watch in court?

Acceptance of a part of any commercial unit is acceptance of the entire unit.

Thomas signed a sales contract with Bricklay’s, a firm that supplies bricks for private individuals. The contract specified the type and amount of bricks needed, and that Thomas would pick up the bricks from the Bricklay’s warehouse 15 days later. Thomas received a document of title, but failed to pick up the goods on the stipulated date. In this scenario, at what point of time is the title to goods passed over to Thomas?

The right of a seller or lessor to refuse to send goods to a buyer or lessee upon breach of a sales or lease contract by the buyer or lessee or the insolvency of the buyer or lessee is known as the ________.

The property on which a security interest is taken is called collateral.

The Magnuson-Moss Warranty Act does not govern warranties of commercial or industrial transactions.

In a secured transaction, the debtor is the secured party.