Use of applicable legal terms answer the following questions
1. When does title pass in a sales contract? Explain
2. Can an order instrument become a bearer instrument and visa-versa? Explain.
3. Compare and contrast holder and assignee?
4. Assume you borrow money from a family friend and, as part of the oral contract, you agree to provide accounting services. Would this loan be a negotiable instrument. Explain.
5. Compare and contrast repossession and foreclosure.
6. How can a seller limit their warranty liability on the sale of goods?
7. How can an endorser limit their liability on an order instrument? Explain.