1504(Own explanation and example)

• Risk of loss generally attends title
• Risk of loss by fortuitous event after perfection but before delivery

1505(Own explanation and example)

• Sale by a person not the owner

1506(Own explanation and example)

• Sale by one having a voidable title
• Definition of terms

1507(Own explanation and example)

• Nature and function of documents of title 
• Most common forms of documents of title
• Classes of documents of titles

1508(Own explanation and example)

• Negotiation of negotiable document by delivery

1509(Own explanation and example)

• Negotiation of negotiable document by indorsement

1504(Own explanation and example)

Risk of loss generally attends title

• This means that a risk of loss shifts when seller has completed obligations under the contract. For example, if the goods are conforming then the only obligation which may be left is delivery and therefore, the risk of loss would shift upon delivery.

Risk of loss by fortuitous event after perfection but before delivery

• This means that the risk of loss by a fortuitous event without the seller's fault is borne by the buyer. For example this can take place if the thing is lost after perfection of the contract but before its delivery.

1505(Own explanation and example)

Sale by a person not the owner

• A sale by a person not the owner occurs when goods are sold by a person who is not the owner without the owner's permission. This simply means a sale of goods have been made by a person who is not the actual owner of the goods. It is only the person who owns the title to a piece of property who can transfer the title to someone else.
• For example of a person can steal a property from someone and sell it to another person. In this case, the seller is not the actual owner.

1506(Own explanation and example)

Sale by one having a voidable title

• This refers to the state in which a party with a voidable title may sell the goods on to another party which in this case is defined as, a "bona fide purchaser. Thereafter if the true owner demands the return of the goods after they have been sold, then the part to who goods were sold is not liable for the tort of conversion.

Definition of terms

• Voidable title - A voidable title is a valid title that can be voided and is is usually acquired by fraud or duress. 
• "bona fide purchaser - This refers to someone who obtains property for value without notice of any problems with its title for example competing claims of ownership.

1507(Own explanation and example)

Nature and function of documents of title

• Documents of title are considered to be an integral part of the business world because they help facilitate commercial transactions by serving as security for loans and help in the promotion of the free flow of goods without unduly burdening the channels of commerce. The nature of document title is that it includes bill of lading, dock warrant, dock receipt, warehouse receipt or order for the delivery of goods, and also any other document which is treated as adequately evidence in for instance the possession of property.
• The function of document of title is that it provides the legality and proves that someone owns property or goods or has the right to take control of it or them.
• Examples of documents of title includes the warehouse receipts, delivery orders and bills of lading among others.

Most common forms of documents of title

• The most common forms of documents are the bill of lading and the warehouse receipt and these occurs whereas negotiable instruments embody a claim for the payment of money.

Classes of documents of titles

• The classes of documents of titles include warehouse receipts, bills of lading, and delivery orders.

1508(Own explanation and example)

Negotiation of negotiable document by delivery

• Negotiation of negotiable document by delivery occurs through endorsement and delivery whereby a negotiable document of title may be negotiated only by the endorsement. The endorsement can be of the person to whose order the goods are by the terms of the document deliverable and coupled with a delivery of the same.

1509(Own explanation and example)

Negotiation of negotiable document by endorsement

• Negotiation of negotiable document by delivery occurs through endorsement and delivery whereby a negotiable document of title may be negotiated only by the endorsement.