chapter 22 - Chapter 22 1*Introduction a Seller must...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 22 1. ***Introduction a. Seller must transfer and deliver conforming goods. b. Buyer must accept and pay for conforming goods. c. In the absence of an agreement between seller and buyer, UCC article 2 controls as set out below 2. Performance Obligations a. Good aith is the foundation of every UCC commercial contact i. Good faith means honesty in fact ii. For a merchant, it means honesty in fact and observance of reasonable commercial standards of fair dealing in the trade. Merchants are held to a higher standard of care than non-merchants. 3. Obligations of the seller-lesser a. Seller has a duty to “tender” delivery of “conforming goods” b. Tender to “place of delivery” i. With reasonable notice ii. At a reasonable hour iii. In a reasonable manner iv. Exactly, unless otherwise agreed 4. “place of delivery”: non-carriers a. Buyer picks up at seller’s place of business, or if seller has no place business, then seller’s residence b. If both parties know the goods are elsewhere (at a warehouse), then place of delivery is where the goods are. 5. Delivery via carriers a. Shipment contracts. Seller has a duty to i. Put goods into hands of independent carrier ii. Make contract for transportation
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
iii. Obtain and promptly deliver or tender to the buyer any documents necessary iv. Promptly notify buyer that shipment has been made b. Destination contract. Seller has duty to i. Tender the goods at a reasonable hour and hold conforming goods at the buyer’s disposal for a reasonable period of time 6. The perfect tender rule a. If goods or tender of delivery, fail in any respect to conform the contract, the buyer has the right to i. Accept the goods; ii. Reject the entire shipment; or iii. Accept part and reject part 7. Exceptions to perfect tender rule a. Agreement of the parties: agree that some defective goods will be acceptable b.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern