<Li> FOB place of business--The seller assumes risk of loss until goods are placed on a carrier . FOB destination: seller risks loss until shipment arrives at destination . If the contract leaves out the delivery place, it is the seller's place of business . </Li> <Li> Risk of loss--Equitable conversion does not apply . In sale of specific goods, the risk of loss lies with the seller until tender . Generally, the seller bears risk of loss until the buyer takes physical possession of the goods (the opposite of realty) </Li> <Li> Reclamation--Successful reclamation of goods excludes all other remedies with respect to the goods . A seller can reclaim goods upon demand within 20 days after buyer receives them if the seller discovers that the buyer received the goods while insolvent . </Li> <Li> Rightfully rejected goods--A merchant buyer may follow reasonable instructions of the seller to reject the goods . If no such instructions are given, the buyer make a reasonable effort to sell them, and the buyer / bailee entitled to 10% of the gross proceeds . </Li>

Congress enacted the uniform commercial code to allow easier business transactions