A contract for the sale of a $12.2 million Lear jet would be governed by common law because a document of title is involved.

Question

Quizplus · Accepted Answer

The fact that a document of title is involved does not determine whether the contract would be governed by common law. The governing law of a contract is typically determined by the agreement of the parties or the jurisdiction where the contract was formed. It is possible that the contract for the sale of a Lear jet could be governed by common law, but the involvement of a document of title alone is not sufficient to determine the governing law.

A Contract for the Sale of a $12