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1. Describe the formation of sales and lease contracts. 2. identify who bears the risk of loss when goods are stolen and resold? 3. distinguish

1. Describe the formation of sales and lease contracts.

2. identify who bears the risk of loss when goods are stolen and resold?

3. distinguish between negotiable and nonnegotiable instruments?

4. Explain how parties are discharged from liability on negotiable instruments?

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