16.1 b a c kn e x t h o m e Chapter 16 Objectives Define “goods.” Define a “sale” of goods...

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16.1 b a c k n e x t h o m e Chapter 16 Objectives Define “goods.” Define a “sale” of goods and distinguish it from a contract to sell. Distinguish between existing and future goods. © 2002 West Educational Publishing To accompany Law for Business, 14e, by Ashcroft and Ashcroft

Transcript of 16.1 b a c kn e x t h o m e Chapter 16 Objectives Define “goods.” Define a “sale” of goods...

Page 1: 16.1 b a c kn e x t h o m e Chapter 16 Objectives Define “goods.” Define a “sale” of goods and distinguish it from a contract to sell. Distinguish.

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Chapter 16 Objectives

Define “goods.”

Define a “sale” of goods and distinguish it from a contract to sell.

Distinguish between existing and future goods.

© 2002 West Educational Publishing To accompany Law for Business, 14e, by Ashcroft and Ashcroft

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Sales ContractsQuickQuiz

QuickQuizQuickQuiz

QuickQuizQuickQuiz

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QuickQuiz

What is the difference between a contract to sell and a contract of sale?

Contract to sell will happen in the future; contract of sale has already happened.

If Jim buys a pencil to use for class, is that pencil considered a future, an existing, or an identified good?

Existing good.Putting a winter coat on layaway at Sears

would be a good example of what kind of good?

Identified good.

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Bills of Sale

A bill of sale serves two purposes: Proof of title Proof the buyer obtained the goods legally

Generally, a buyer does not need a bill of sale as evidence of title, but it is very desirable!

Bill of Sale

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Illegal Sales

If an illegal sale of goods is fully executed, the courts will not intervene to aid either party.

However, if one party is innocent, the other party has an obligation to restore goods or money to the innocent party.

If the illegal sale is executory, it will not be enforced.

If it can be proven that the illegal part can be divided from the legal part, the legal part will be upheld.

If the sale is indivisible, the whole thing is illegal.

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International Sales Contracts

Parties may specify which country’s laws should prevail.

When the contract is not specific, the United Nations Convention on Contract for the International Sale of Goods governs.


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Public Goods and Common Resources CHAPTER 16. After studying this chapter you will be able to Distinguish among private goods, public goods, and common.

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PUBLIC GOODS AND COMMON RESOURCES 16 CHAPTER. Objectives After studying this chapter, you will able to Distinguish among private goods, public goods,

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