Essentials of Business Law Chapter 16

Ownership and the right to possess something.

A written statement that the seller is passing ownership to the buyer.

A receipt for goods to be shipped, acknowledging that such goods have been received and indicating agreement that the goods will be transported to the destination specified.

A nonnegotiable receipt for goods to be shipped, acknowledging that such goods have been received and indicating agreement that the goods will be transported to the destination specified.

A receipt for goods to be shipped that is negotiable and is proof of title that can be used to transfer title from one person to another.

Much like a bill of lading except that the goods are not being shipped but merely stored.

A receipt for the goods to be stored.

Proof of ownership that can be used to transfer title from one person to another.

A sale with contract provisions that specify conditions that must be met by one of the parties.

Conditions in a sales contract that must be met before title passes.

Conditions in a sales contract that must be met after title has passed.

A legal bar to using contradictory words or acts in asserting a claim against another.

A person with the right to make legitimate sales as a representative of the owner of the goods, although he or she is not a titleholder.

When property, such as stolen goods, is transferred without permission of the owner.

Goods that are generally sold by weight or measure.