保险利益与物权.pptVIP

Chapter 20: Title, Risk and Insurable Interest Introduction Sale of goods requires different rules than real property transactions: risk should not always pass with title. UCC replaces title with identification, risk, and insurable interest. §1: Identification For any interest to pass to buyer, goods must be: In existence. Identified as specific goods in the sales contract (by serial numbers and/or physically separated from others. Except for fungible goods which do not need separation). Identification [2] Gives the buyer the right: To obtain insurance on the goods. To recover from third parties who damage the good. Identification occurs: If goods are designated when contract is made. If goods are not designated when contract is made, then identified at time of designation. §2: When Title Passes to Buyer When agreed to by the parties, or If no agreement, depends on whether contract is shipment or destination contract: Shipment: title passes at time and place of shipment. Destination: title passes when goods are tendered at the destination. When Title Passes to Buyer [2] Delivery “without movement” of the goods title passes when agreed by the parties, or With document of title: when and where document delivered. Without document: when sales contract is made, if goods have been identified or when identification occurs if they have not been identified. Case 20.1: Lane v. Honeycutt (1972). Sales or Leases By Non-Owners Void Title: true owner gets goods back. Voidable Title: good faith purchaser keeps goods. Entrustment rule: good faith purchaser keeps goods. Case 20.2: DeWeldon v. McKean (1997). Seller’s Retention of Sold Goods: good faith purchaser wins. Sham transactions or preferential transfers. §3: Risk of Loss ROL does not necessarily pass with title. ROL is important because of insurance and breach concerns. Unless agreed otherwise, ROL passes to Buyer depending on whether delivery is with or without movement of the goods. Delivery With Movement o