KxFer656
11-12-2008, 06:33 AM
• Sale-a contract in which ownership of goods is transferred from the seller to the buyer for consideration.
• Price-the money paid for the goods.
• Goods-all things that are moveable.
• Uniform commercial Code-a collection of laws that governs various types of business transactions.
• Contract to sell-every time you buy goods and take ownership of them, a sale occurs.
• Merchant-A business or person who deals regularly in the sale of goods or who has a specialized knowledge of goods.
• Usage of trade-The method of dealing that is commonly used in the particular field.
• Firm offer-A merchant’s written promise to hold an offer open for the sale of goods.
• Output contract-An agreement to buy all of a manufacturers goods.
• Requirement contract-When a seller agrees to supply the needs of a buyer.
• Auction with reserve- Where an auctioneer doesn’t have to sell the goods for the highest bid if it’s lower than the reserve amount.
• Without reserve-the auctioneer must sell the goods to the highest bidder.
• Bulk transfer-A business transfers all merchandise and supplies at once.
• Title-The right of ownership to goods.
• Bill of sale-formal evidence of ownership.
• Void able title-Title may be voided if the injured party elects to do so.
• Risk of loss-The responsibility for loss or damage to goods.
• Identified goods-Goods that presently exist and that have been set aside for a contract.
• Future goods-Goods that are not both existing and selected.
• Carrier-A transportation company
• F.o.b.-Free on board, means that goods will be delivered free to the designated place.
• Destination contract-When a contract requires the seller to deliver the goods to a destination.
• Bill of lading-A receipt for shipment of goods given by a transportation company.
• Warehouse receipt-a document given to a customer by the warehouse that is storing his or her goods.
• Electronic commerce-the buying and selling of goods and services, or the transfer of money over the internet.
• Electronic signature-The method of signing an electronic message.
• Online privacy-A part of your more general right to privacy. Concerns your identity, movement, and personal and commercial activities on the internet.
• Federal Trade Commission-This act states that “unfair or deceptive acts or practices in or affecting commerce are herby declared unlawful”
• Price-the money paid for the goods.
• Goods-all things that are moveable.
• Uniform commercial Code-a collection of laws that governs various types of business transactions.
• Contract to sell-every time you buy goods and take ownership of them, a sale occurs.
• Merchant-A business or person who deals regularly in the sale of goods or who has a specialized knowledge of goods.
• Usage of trade-The method of dealing that is commonly used in the particular field.
• Firm offer-A merchant’s written promise to hold an offer open for the sale of goods.
• Output contract-An agreement to buy all of a manufacturers goods.
• Requirement contract-When a seller agrees to supply the needs of a buyer.
• Auction with reserve- Where an auctioneer doesn’t have to sell the goods for the highest bid if it’s lower than the reserve amount.
• Without reserve-the auctioneer must sell the goods to the highest bidder.
• Bulk transfer-A business transfers all merchandise and supplies at once.
• Title-The right of ownership to goods.
• Bill of sale-formal evidence of ownership.
• Void able title-Title may be voided if the injured party elects to do so.
• Risk of loss-The responsibility for loss or damage to goods.
• Identified goods-Goods that presently exist and that have been set aside for a contract.
• Future goods-Goods that are not both existing and selected.
• Carrier-A transportation company
• F.o.b.-Free on board, means that goods will be delivered free to the designated place.
• Destination contract-When a contract requires the seller to deliver the goods to a destination.
• Bill of lading-A receipt for shipment of goods given by a transportation company.
• Warehouse receipt-a document given to a customer by the warehouse that is storing his or her goods.
• Electronic commerce-the buying and selling of goods and services, or the transfer of money over the internet.
• Electronic signature-The method of signing an electronic message.
• Online privacy-A part of your more general right to privacy. Concerns your identity, movement, and personal and commercial activities on the internet.
• Federal Trade Commission-This act states that “unfair or deceptive acts or practices in or affecting commerce are herby declared unlawful”