Chapter 20 Notes

Chapter 20 Notes - Ch 20 Performance Obligations Seller...

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Ch. 20 Performance Obligations Seller: Obligation to transfer and deliver conforming goods Buyer: Accept and pay for conforming goods Obligations of the Seller or Lessor Conforming goods – goods that conform to contract specifications Tender of delivery – act of placing conforming goods at the disposal of the buyer or lessee and giving them whatever notification is reasonably necessary to enable the buyer to take delivery Place of Delivery Delivery via Carrier o Shipment contracts and destination contracts The Perfect Tender Rule: Seller is obligated to deliver goods in conformity with the terms of the contract Exceptions to the Perfect Tender Rule o Agreement of the parties o Cure – right of the seller to repair, adjust, or replace nonconforming goods o Substitution of carries o Installment contract – requires or authorizes delivery in two or more separate lots to be accepted and paid for separately o Commercial impracticability
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This note was uploaded on 04/09/2012 for the course LAW LAW taught by Professor Ricks during the Spring '09 term at Rutgers.

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Chapter 20 Notes - Ch 20 Performance Obligations Seller...

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