true and false questions:

1. Identification occurs when goods are shipped by the seller.

2. Unless the parties agree otherwise, title passes at the time and place that the buyer accepts the goods.

3. Unless a contract provides otherwise, it is normally assumed to be a shipment contract.

4. A buyer and a seller cannot both have an insurable interest in the same goods at the same time.

5. In a sale on approval, the risk of loss passes to the buyer as soon as the buyer takes possession.

6. A buyer can acquire valid title to stolen goods if he or she does not know that the goods are stolen.

7. Under a destination contract, title passes at the time and place of shipment.