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15 Cards in this Set

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  • Back
Shipment Contract
(3)
Seller's delivery obligations:

1) get good to common carrier
2) r/s delivery arrangements
3) seller notifies buyer

Seller completes its legal obligation once these obligations met (not upon buyer's receipt)
Delivery Contract
Seller does not complete legal obligation until goods arrive where buyer is
FOB - Seller City/Where Goods At
Shipment K
FOB - Buyer City
Destination K
Risk of Loss
(4)
1) Agreement of Parties Controls
2) Breaching party is liable for an uninsured loss even though breach unrelated to problem
3) Delivery by common carrier other than seller: Risk of loss shifts from seller to buyer once seller completes delivery obligation
4) No agreement / breach / delivery -- depends if seller is a merchant:

IF Merchant - buyer assumes risk upon receipt

IF NON-Merchant -- assumes risk upon "tender" of goods by seller (tender = made good available to buyer)
Warranties of Quality
1) Express - promise or describe; samples or models
2) Implied Warranty of Merchantability --

(MERCHANT = person who sells good of that kind) goods are fit for ordinary purposesm
3) Implied Warranty of Fitness for Particular Purpose --

(BUYER HAS A PARTICULAR PURPOSE, seller has r/s knowledge of such purpose) good must be fit for that purpose
Warranties of Quality - Limitations
Express -- cannot be disclaimed

Implied:
1) conspicuous langage of disclaimer***
2) "as is" or "with all faults"
Warranties of Quality -- Limitations on Remedies
1) Possible to limit remedies for EXPRESS and IMPLIED (i.e., replacement parts)
2) General teest --> unconscionability; prima facie unconscionability --> personal injury
Performance -- (6) General Concepts

Article 2
1) Perfect Tender
2) Rejection of Goods
3) Cure
4) Installment Ks
5) Acceptance of Goods
6) Revocation of Acceptance of Goods
Performance -- Perfect Tender
1) Sales of goods only
2) Seller's performance must be perfect
3) less than perfect tender by seller --> buyer option of rejection of delivered goods
Performance -- Rejection of Goods
Buyer has option to retain and sue for damages

OR

Reject "all or any" and se for damages
Performance -- Cure
Seller has possibiliy to cure imperfect tender, IF:

-1) seller r/s believes improper tender acceptable to buyer (look for prior deals w/ buyer and seller)
2) Time for performance has not yet expired
Performance -- Installment Ks
REQUIRES or AUTHORIZES:

1) delivery in separate lots
2) to be separately accepted

buyer can only reject if installment prob can't be cured
Performance -- Acceptance of Goods
Once accepted (esp. w/o objection) --> can't reject

Once paid for -->
IF inspection: acceptance
IF NO inspection: not acceptance
Performance -- Revocation of Acceptance
(3)
1) Nonconformity substantialy impairs value of goods
2) Excusable ignorance of grounds for revocation or seller's assurance of satisfaction
3) Revocation w/in r/s time