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3 Cards in this Set
- Front
- Back
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2-201: Statute of Frauds
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Oral contracts not enforceable if performance cannot be completed in one year
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2-609: Demand for Assurances
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Party that has reasonable concern that performance will not happen has right to request 'adequate assurances' to guarantee performance
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2-508: Seller Right to Cure
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When buyer rejects, seller can fix the issues, within a reasonable time. When time is important, may not be allowed.
Only available when buyer initially rejects: no available for revocation of acceptance Use of cure does not eliminate buyers options to sue for breach |
