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Open-ended(conventional) motor vehicle leases generally include a provision for determining the amount of "excess wear and tear" (or "wear and use") at the end of the lease term, for which the lessee is responsible upon returning the vehicle. [2] Closed-end leases have become very popular for automobile buyers in North America since the mid ...
In order to assume an existing mortgage loan it is generally necessary to obtain consent from the lender prior to the assumption process. Transfer of property with an existing mortgage loan that is made without the lender's consent is sometimes referred to as a sale "subject to" the existing loan.
A delivery order (abbreviated D/O [1]) is a document from a consignee, or an owner or his agent of freight carrier which orders the release of the transportation of cargo to another party. [2] Usually the written order permits the direct delivery of goods to a warehouseman , carrier or other person who in the course of their ordinary business ...
A common carrier in common law countries (corresponding to a public carrier in some civil law systems, [1] usually called simply a carrier) [2] is a person or company that transports goods or people for any person or company and is responsible for any possible loss of the goods during transport.
Agreement - the agreement of the parties controls; Breach - the breaching party is liable for any uninsured loss even though breach is unrelated to the problem. Hence, if the breach is the time of delivery, and the goods show up broken, then the breaching rule applies risk of loss on the seller. Delivery by common carrier other than by seller.
Warehouse receipts may be negotiable or non-negotiable. Negotiable warehouse receipts allow transfer of ownership of that commodity without having to deliver the physical commodity. See Delivery order. Most warehouse receipts are issued in negotiable form, making them eligible as collateral for loans.
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