After graduation from St. Clair College, you find investors that help you form a brand-new logistics company based in Windsor, Ontario. You want to take advantage of being so close to the U.S.A. border to work with importers and distributors to maximize delivery efforts in both countries. You also open a separate office in Halifax, NS to process and receive products shipped by sea that you can then transport to your distribution facilities in Windsor. The Windsor airport is under-utilized with a lot of vacant land near it including nearby rail lines. You see this as providing you a lot of options for air, rail, ground, and sea all being available to you for your business. As North America's immigrant population grows, you particularly see a need to increase imports and deliveries from India and China. Specifically, you plan on importing food products that are not native to North America but are very common in Asian cuisine. You also are going to be importing and delivering specialty kitchen appliances and accessories including cooking appliances that work better for the style of cooking, but also must be used correctly or people could harm themselves.

Prior to purchasing the products from the suppliers, your lawyer has advised that written contracts should be entered into with the suppliers of the products. Please identify and describe 5 contractual terms/clauses that should be included in the contract. Within those 5 terms/clauses, make one of those terms address the transfer of ownership issue of the products and explain to me why such a term is important.

References and citations needed