A sale exists when the buyer takes:
A) title to the goods.
B) the risk of loss on the goods.
C) an insurable interest in the goods.
D) a special property interest in the goods.

Question

Quizplus · Accepted Answer

Title to the goods is the legal ownership of the goods. When a buyer takes title to goods, it means they have become the legal owner of those goods and have all rights associated with that ownership. This is the defining characteristic of a sale. While the buyer may also take on the risk of loss, insurable interest, and a special property interest in the goods, these are not the defining characteristics of a sale.

A Sale Exists When the Buyer Takes