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Unformatted text preview: b. Sale or return i. Is a sale, but the buyer can say he just doesnt 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 buyers insurance does not cover the loss c. Buyers 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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This note was uploaded on 12/02/2010 for the course GBA 362 taught by Professor Roberson during the Spring '10 term at Sam Houston State University.
- Spring '10