Chapter 17

Chapter 17 - Chapter 17 Performance and Breach of Sales and...

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Chapter 17 Performance and Breach of Sales and Lease Contracts - What are the respectivce obligations of the parties under a contract for sale/lease of goods? - What is the perfect tender rule? - What remedies are available to a non-breaching party when the other party repudiates the contract prior to performance? Performance Obligations - Good faith and commercial reasonableness are implied in every contract. - Seller has a basic obligation to transfer and deliver conforming goods. - Buyer’s basic obligation is the accept and pay for conforming goods. Tender of Delivery - Seller has duty to notify Buyer that conforming goods are at the disposal of the Buyer to take delivery. - Reasonable place and time. Seller’s Obligations - Place of Delivery (For Tender): o Non-Carrier: Seller’s place of business. o Carrier Cases: Shipment: Perfect Tender - Perfect Tender Rule o Seller has duty to ship/tender conforming goods. o
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Chapter 17 - Chapter 17 Performance and Breach of Sales and...

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