Business Law Chapter 13

A contract for the sale of goods may be made before the price is settled.

• true

• false

Goods must be moveable to be valid subject matter of a sales contract.

• true

• false

A writing is not required if the buyer accepts and pays for the goods.

• true

• false

Auction bids may not be withdrawn.

• true

• false

When a buyer breaches a sales contract, the seller may cancel the contract.

• true

• false

A contract by which ownership of goods is shifted from seller to buyer for a price is a

• bid

• sale

• delivery

• transfer

A business or person who deals regularly in the sale of goods is a(n)

• nonmerchant

• agent

• merchant

• owner

The right of ownership to goods is known as

• risk of loss

• title

• identified goods

• bill of lading

The transfer of all goods owned by a business is known as a

• forced sale

• shipment contract

• total transfer

• bulk transfer

A receipt given by a carrier to a shipper for shipment of goods is known as a

• warehouse receipt

• delivery tender

• bill of lading

• document of title