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Unformatted text preview: b. Sale or return i. Is a sale, but the buyer can say he just doesn’t want it anymore 4. ROL: Breach of contract a. Generally breaching party bears ROL b. Sellers’ breach i. Rejection – risk stays with seller ii. Revocation of acceptance – risk passes back to seller to the extent that buyer’s insurance does not cover the loss c. Buyer’s breach i. Goods are identified ii. Risk passes to buyer for a reasonable amount of time after seller learns of the breach 5. Insurable interest a. Buyer has an insurable interest in goods that have been identified b. Seller has an insurable interest in goods as lng as they retain title or a security interest c. Both buyers and sellers can have an insurable interest at the same time....
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- Spring '10
- Sales, buyer, Rol, byer