1. Title Title Before beginning this interactive, you should review LO 22-1 discussing the concept of title in your text. Pay particularly close attention to the differences among the three types of titles that can arise when a buyer purchases goods: good titles, void tities, and voidable titles. Nelther businesses nor indlviduals can own or sell goods unless you have good title to them. The Uniform Commercial Code (UCC) defines a sale as the passing of title from the seller to the buyer for a price. Read the scenario below and answer the following questions relating to the sale of a title. Hugo, a 21-one-year old man, is birthday shopping for his mother over the online classifieds. While browsing the internet for sale ads, he notices a particularly good deal on a 14-carat gold necklace with matching 1/3-carat diamond earrings. The seller says the jeweiry is brand new, still in the box, and wants only $359 for the entire set. Hugo immediately e-mails the seller and arranges for the purchase of the jewelry. Hugo pays the seller, receives the necklace and earrings, and intends to give them to his mother for her birthday. 1a. What is the sale of a title? What is the sale of a title? Multiple Choice The passing of title from the seller to the buyer for a price. When insurance on goods can be purchased. When the goods become part of the buyer's inventory and can serve as collateral for a loan. When the original parties would be void but the goods have already been sold to a third party. When a buyer can sell goods to a third party