My thoughts on the UCC’s perfect tender rule is that it is necessary for certain contracts. For example, I am going to break down the Case Opener in Chapter 23. Vitol purchased oil from Koch to be delivered within a three-day window of February 3 to 5. Before delivery of the oil, Vito sold the purchased oil to Castle Oil. Vitol informed Koch and indicated that delivery must be made on February 3 at Castle’s port and Koch acknowledge this information. Koch didn’t deliver the oil until February 4th and that resulted in a breach of the perfect tender rule and a breach of contract. Castle sued Vitol,
My thoughts on the UCC’s perfect tender rule is that it is necessary for certain contracts. For example, I am going to break down the Case Opener in Chapter 23. Vitol purchased oil from Koch to be delivered within a three-day window of February 3 to 5. Before delivery of the oil, Vito sold the purchased oil to Castle Oil. Vitol informed Koch and indicated that delivery must be made on February 3 at Castle’s port and Koch acknowledge this information. Koch didn’t deliver the oil until February 4th and that resulted in a breach of the perfect tender rule and a breach of contract. Castle sued Vitol,