The sale of a good is a transaction in which _____ passes from one party to another in exchange for a price.
A) the title to the good
B) the physical possession of the good merely
C) a royalty fee
D) risk of loss exclusively

Question

Quizplus · Accepted Answer

In a sale of a good, not only does the physical possession of the good pass from one party to another, but also the title to the good. This means that the buyer becomes the legal owner of the good and has the right to use and dispose of it as they wish. In exchange for this transfer of ownership, the buyer pays a price to the seller. Therefore, option A is the correct choice. Neither option B, C, nor D covers the complete picture of a sale of a good.

The Sale of a Good Is a Transaction in Which