1. Distinguish between real and personal property and indicate which is subject to the law of sales.

29. Explain how title and certificate of title relate to ownership.

30. Explain how title passes and discuss how bills of sale, bills of lading, and warehouse

receipts are involved in the passing of title.

31. Explain the law governing title to lost or stolen goods and sales by persons having wrongful possession of goods.

32. Discuss the principle of estoppel and provide examples of how this principle is applied in various situations.

33. Explain the passage of title to fungible goods.

34. Title An important application of the concept of title relates to who is holding title when a loss occurs. Are there other ways of determining who should bear a loss in a business transaction?

35. Conditions Precedent A contract stipulates that certain conditions must be met before title can pass. A seller might wish to hasten the passage of title to mini- mize the risk of loss and the cost of insurance to indemnify such losses. Consider a typical sales transaction and suggest steps a seller might take to accelerate title transfer.

36. Estoppel It seems that passage of title by estoppel might deny the rights of an innocent though inattentive property owner. Should a legitimate titleholder lose title because of his or her inattention?

37. Remote Parties How can a buyer in a store know whether he or she is dealing with a titleholder or a remote party? Does it make a difference? Generally, whom does a buyer hold responsible for problems?

38. A Question of Ethics Is it ethical for a person who is not a titleholder to act as one who has title to goods, thereby misleading a prospective buyer?

26. How can a contract for future goods provide price flexibility for the seller and, at the same time, provide predictability to the buyer?

27. Why is it important to determine when title passes?

28. A contract for sale with the right of return gives the buyer both title to the goods and the opportunity to return the goods to the seller at a later time. What are the benefits to the seller of this type of sales transaction?

29. When a contract provides for the sale of goods subject to the buyer's approval, the transaction is a sale on approval. What are the benefits to the buyer of this type of sales transaction?

30. Discuss advantages and disadvantages to both sellers and buyers of shipping FOB destination and FOB shipping point.

31. Explain both sellers' and buyers' remedies for breach of contract.

32. Contract for Labor and Materials A contract for labor and materials need not be in writing, even if it is over $500. Does the buyer of the labor and materials enjoy the same level of legal protection as if the contract were in writing?

33. Internet Auction Compare and contrast online auctions with actual live auctions.

34. Sellers' Remedies How might a seller avoid pitfalls in selling to unknown buyers?

35. Buyers' Remedies How might a buyer avoid pitfalls in buying from unknown sellers?

36. A Question of Ethics Is it fair for a buyer to ask a seller to hold merchandise while the buyer shops for a better price?

Explain the term warranty and distinguish between express and implied warranties.

27. Provide examples of four kinds of express warranties and three kinds of implied warranties.

28. Explain disclaimers of implied warranties and the requirements for them to be legally valid.

29. Explain the provisions of the Magnuson-Moss Warranty Act.

30. Explain the effect of warranties offered after a transaction has been completed.

31. Custom of the Marketplace In the case of a vague or indefinite written warranty, how can a court determine what such a warranty usually means in similar transactions?

32. Disclaimers What is the primary objective of warranty disclaimers?

33. Disclaimers Should the law distinguish between a reasonable basis for a warranty disclaimer and one that attempts to substantially negate the warranty?

34. Oral Warranties How would the law distinguish between oral statements of warranty and puffing?

35. A Question of Ethics Can it be ethically justified for a manufacturer to spell a product with a warranty less than the law requires?