Discuss about the terms of sales contracts and the significance of the passage of title of the goods.

Discuss about the terms of sales contracts and the significance of the passage of title of the goods.eBook: Prenkert, J. D., Barnes, A. J., Perry, J. E., Haugh, T., & Stemler, A. (2022). Business law: The ethical, global, and e-commerce environment (18th ed.). New York: McGraw-Hill Education. Chapter 19 introduces the concept of the Uniform Commercial Code and how it applies to the domestic sale of goods. You will also learn about the terms of sales contracts and the significance of the passage of title of the goods. You will also learn about the risk of loss and how that risk can be mitigated by using certain contract terms. • Chapter 19: Performance and Terms of Sales Contracts Articles, Websites, and Videos: This article accessible through the Post University Library contains information about commercial transactions. • Drobnig, U. M. (n.d.). Commerical transaction. Britannica Academic. Review this document for the current Incoterms 2020. The chart demonstrates the levels of risk associated with various terms. • Basic overview of the Incoterms® 2020 rules. (2020). DHL. This video explains “Incoterms” which are rules for international commercial shipments. • Shipping Channel. (2018, December 4). What are incoterms? [Video]. YouTube. This video explains “International Shipping 101.” • Lumi. (2018, July 9). International shipping 101 [Video]. YouTube. Overview: In Unit 7, you are learning about sales contacts and ways in which businesses can limit risk of loss. In this assignment, you will analyze a commercial transaction to determine what contract terms should be included in order to minimize the risk of loss for the buyer. Instructions: Imagine that you are a manager in a commercial printing company, and you have found a good deal on the ink that your company uses most frequently from a supplier in Japan. • Using the materials from this week’s reading as well as the supplemental resources, consider what shipping terms you should insist be in the contract in order to limit the risk of loss for your company. • Using the attached Memo template, draft an interoffice memo to the owner of the company describing at least three shipping terms you would want to be included in the contract. Requirements: • Include one resource, in addition to the textbook. o Use APA format for non-legal sources such as the textbook. Use Bluebook citation format for any legal citations. • Submit a Word document. • Maximum two pages in length, excluding the Reference page.