Search results
Results from the WOW.Com Content Network
all and every the household goods, furniture, plate, linen, china, books, stock in trade, brewing utensils and all the effects. [3] Most often, people would grant bills of sale over their goods as security for a loan. Borrowers would transfer ownership of their goods to the lender, while retaining possession of them when making repayments.
In the past, the FOB point determined when title transferred for goods. For example, at year- and period-end goods in transit under "FOB destination" (North American usage) appear on the seller's balance sheet but not in the buyer's balance sheet, as the risk and rewards of ownership change to the buyer at the "destination" port.
If the terms of ownership of risk are not defined by the parties, then the ‘default’ law of Sale of Goods applies. [4] For example, for a specific good, the ownership is identifying when the good is in the delivery stage. Additionally, for unascertained goods, the ownership is passed until the good is identified and sent to the buyer.
Goods are sold at the risk of the consignor with profit or loss belonging to the consignor only. A consignor who consigns goods to a consignee transfers only possession, not ownership, of the goods to the consignee. The consignor retains title to the goods. The consignee takes possession of the goods subject to a trust.
They may have been purchased, received as gifts, leased, or borrowed. The transfer of possession of goods is called delivery. For land, it is common to speak of granting or giving possession. A temporary transfer of possession is called a bailment. Bailment is often regarded as the separation of ownership and possession.
A warehouse receipt is a document that provides proof of ownership of commodities (e.g., bars of copper) that are stored in a warehouse, vault, or depository for safekeeping. Warehouse receipts may be negotiable or non-negotiable.
Title to {the Goods} shall remain vested in {the Seller} and shall not pass to {the Buyer} until the purchase price for {the Goods} has been paid in full and received by {the Seller}. Until title to {the Goods} passes: {the Seller} shall have authority to retake, sell or otherwise deal with and/or dispose of all or any part of {the Goods};
A marketing channel consists of the people, organizations, and activities necessary to transfer the ownership of goods from the point of production to the point of consumption. It is the way products get to the end-user, the consumer; and is also known as a distribution channel. [1]