BSL 212 Chapter Notes - Chapter 21: Pay-As-You-Earn Tax

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Object has a void title of stolen good: stolen object is sold. When stolen object is sold no good title is passed on. Stolen object must be returned from the good faith purchaser. Someone who pays full value for an unknowingly stolen object. Voidable title rule: voluntary delivery of object. Has voidable title of object: delivered object sold to a good faith purchaser. When delivered object is sold it has a good title. Seller and buyer agree on shipment of goods. As soon as the seller passes on object to shipper, risk of loss is transferred to the buyer. If objects are lost then buyer must pay for damages. Risk of loss is not transferred from buyer to seller until it is delivered to buyer. If objects are lost then seller must pay for damages. Explicit statement if what type of delivery contracts. If the contract is silent about risk of loss shipment.

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