Question

Explain ways to acquire ownership for gifts and non-gifts. (Ch 48)

What is the scope of Art. 2 of the UCC? Under Art 2,

what are ‘goods’ and who is a ‘merchant’? (Ch 20)

Answer 1

Ans A

1 - gift

1) sole promise to make a gift is unenforceable
2) Three necessary elements to make a gift
a) Delivery - may be:
actual - physical presentation of the gift
constructive - entails delivery of gift, gives access to the gift, or represents it
b) Donative Intent to make an immediate gift- donor makes delivery with the purpose of turning over ownership at the time of the delivery
c) acceptance - willingness of the donee to take the gift from the donor
3) Inter vivos gifts - gifts made during donor's lifetime
4) gift causa mortis - gift made after death of donor (3 elements must occur before death)
5) gifts CAN be conditional

:- Transfer by Purchase

1) Buyer gives some consideration to seller for title (ownership of the property)
2) title may require registration with govt agency -- cars, boats, houses etc -- cert of title must be signed by selle, taken to agency and transferred to buyer

Ans B :- Article 2 is a vast segment of the UCC that specifically addresses contracts for the sale of goods. A good is any movable property identified at the time of the contract. 'Goods' are also sometimes known as 'chattels. ... Under the UCC, a sale of goods is the transfer of title from seller to buyer for a price.

Ans C :-

1) A merchant is a person who deals in goods of the kind involved in the sales contract. ' 2) A merchant is a person who, by occupation, holds himself or herself out as having knowledge and skill unique to the practices or goods involved in the transaction.

Identified goods. Definition. Goods that have been specifically designated as the subject matter of a particular sales contract.