notes - Chapter 26 Duties of the parties (UCC) 1 sellers...

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Chapter 26 Duties of the parties (UCC) 1 – seller’s duty to deliver 2 – buyer’s duty A. Right of inspection B. Right of rejection C. Duty to accept conforming goods D. Right of revocation E. Duty to pay *when duties are excused - Commercial impracticability = impossibility Court presumes good faith between seller and buyer (honesty) If not delivery option is stated while purchasing goods; pick up at sellers place of business is assumed Rejection if what you do when you have not yet accepted the goods Seller has the right to cure (seller gets second chance to deliver goods if there was a mistake the first) *Only way the seller can’t cure: Time is of the essence(Original sales agreement must state it though.) Chapter 27 **ON TEST** Remedies available to seller: 1. Seller’s lien (right to retain goods) 2. Stop shipment 3. Resale by seller 4. Cancellation by seller 5. If seller resale’s the goods and makes less profit, seller can sue for damages (What it was worth) 6. Sue for lost profits 7. Seller’s action for incidental damages (additional charges for resale)
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8. Seller’s action for purchase price(Custom products – you can just sue.)
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This note was uploaded on 12/09/2010 for the course HIST 101 taught by Professor Blah during the Spring '08 term at CUNY John Jay.

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notes - Chapter 26 Duties of the parties (UCC) 1 sellers...

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