- PART 1 - SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER
- 14-2-101. SHORT TITLE.
- 14-2-102. SCOPE; CERTAIN SECURITY AND OTHER TRANSACTIONS EXCLUDED FROM THIS CHAPTER.
- 14-2-103. DEFINITIONS AND INDEX OF DEFINITIONS.
- 14-2-104. DEFINITIONS: MERCHANT; BETWEEN MERCHANTS; FINANCING AGENCY.
- 14-2-105. DEFINITIONS: TRANSFERABILITY; GOODS; FUTURE GOODS; LOT; COMMERCIAL UNIT.
- 14-2-106. DEFINITIONS: CONTRACT; AGREEMENT; CONTRACT FOR SALE; SALE; CONFORMING TO CONTRACT; TERMINATION; CANCELLATION.
- 14-2-107. GOODS TO BE SEVERED FROM REALTY: RECORDING.
- PART 2 - FORM, FORMATION AND READJUSTMENT OF CONTRACT
- 14-2-201. FORMAL REQUIREMENTS; STATUTE OF FRAUDS.
- 14-2-202. FINAL WRITTEN EXPRESSION: PAROL OR EXTRINSIC EVIDENCE.
- 14-2-203. SEALS OF INOPERATIVE.
- 14-2-204. FORMATION IN GENRAL.
- 14-2-205. FIRM OFFERS.
- 14-2-206. OFFER AND ACCEPTANCE IN FORMATION OF CONTRACT.
- 14-2-207. ADDITIONAL TERMS IN ACCEPTANCE OR CONFIRMATION.
- 14-2-208. COURSE OF PERFORMANCE OR PRACTICAL CONSTRUCTION.
- 14-2-209. MODIFICATION, RECISSION AND WAIVER.
- 14-2-210. DELEGATION OF PERFORMANCE; ASSIGNMENT OF RIGHTS.
- PART 3 - GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT
- 14-2-301. GENERAL OBLIGATIONS OF PARTIES.
- 14-2-302. UNCONSCIONABLE CONTRACT OR CLAUSE.
- 14-2-303. ALLOCATION OR DIVISION OF RISKS.
- 14-2-304. PRICE PAYABLE IN MONEY, GOODS, REALTY, OR OTHERWISE.
- 14-2-305. OPEN PRICE TERM.
- 14-2-306. OUTPUT, REQUIREMENTS AND EXCLUSIVE DEALINGS.
- 14-2-307. DELIVERY IN SINGLE LOT OR SEVERAL LOTS.
- 14-2-308. ABSENCE OF SPECIFIED PLACE FOR DELIVERY.
- 14-2-309. ABSENCE OF SPECIFIC TIME PROVISIONS; NOTICE OF TERMINATION.
- 14-2-310. OPEN TIME FOR PAYMENT OR RUNNING OF CREDIT; AUTHORITY TO SHIP UNDER RESERVATION.
- 14-2-311. OPTIONS AND COOPERATION RESPECTING PERFORMANCE
- 14-2-312. WARRANTY OF TITLE AND AGAINST INFRINGEMENT; BUYER’S OBLIGATION AGAINST INFRINGEMENT.
- 14-2-313. EXPRESS WARRANTIES BY AFFIRMATION, PROMISE, DESCRIPTION, SAMPLE.
- 14-2-314. IMPLIED WARRANTY: MERCHANTABILITY; USAGE OF TRADE.
- 14-2-315. IMPLIED WARRANTY: FITNESS FOR PARTICULAR PURPOSE.
- 14-2-316. EXCLUSION OR MODIFICATION OF WARRANTIES.
- 14-2-317. CUMULATION AND CONFLICT OF WARRANTIES EXPRESS OR IMPLIED.
- 14-2-318. THIRD PARTY BENEFICIARIES OF WARRANTIES EXPRESS OR IMPLIED.
- 14-2-319. F.O.B. AND F.A.S. TERMS.
- 14-2-320. C.I.F AND C. & F. TERMS.
- 14-2-321. C.I.F. OR C. & F.: NET LANDED WEIGHTS; PAYMENTS ON ARRIVAL; WARRANTY OF CONDITION ON ARRIVAL. Under a contract containing a terms C.I.F. or C. & F.
- 14-2-322. DELIVERY EX-SHIP.
- 14-2-323. FORM OF BILL OF LADING REQUIRED IN OVERSEAS SHIPMENT ; OVERSEAS.
- 14-2-324. NO ARRIVAL, NO SALE TERM.
- 14-2-325. LETTER OF CREDIT TERM; CONFIRMED CREDIT.
- 14-2-326. SALE ON APPROVAL AND SALE OR RETURN; CONSIGNMENT SALES AND RIGHTS OF CREDITORS.
- 14-2-327. SPECIAL INCIDENTS OF SALE ON APPROVAL AND SALE OR RETURN.
- 14-2-328. SALE BY AUCTION.
- PART 4 - TITLE, CREDITORS AND GOOD FAITH PURCHASES
- 14-2-401. PASSING OF TITLE; RESERVATION FOR SECURITY; LIMITED APPLICATION OF THIS SECTION.
- 14-2-402. RIGHTS OF SELLER’S CREDITORS AGAINST SOLD GOODS.
- 14-2-403. POWER TO TRANSFER; GOOD FAITH PURCHASE OF GOODS; ENTRUSTING.
- PART 5 - PERFORMANCE.
- 14-2-501. INSURABLE INTEREST IN GOODS; MANNER OF IDENTIFICATION OF GOODS.
- 14-2-502. BUYER’S RIGHTS TO GOODS ON SELLER’S INSOLVENCY.
- 14-2-503. MANNER OF SELLER’S TENDER OF DELIVERY.
- 14-2-504. SHIPMENT BY SELLER.
- 14-2-505. SELLER’S SHIPMENT UNDER RESERVATION.
- 14-2-506. RIGHTS OF FINANCING AGENCY.
- 14-2-507. EFFECT OF SELLER’S TENDER; DELIVERY ON CONDITION.
- 14-2-508. CURE BY SELLER OF IMPROPER TENDER OR DELIVERY; REPLACEMENT.
- 14-2-509. RISK OF LOSS IN ABSENCE OF BREACH.
- 14-2-510. EFFECT OF BREACH ON RISK OF LOSS.
- 14-2-511. TENDER OF PAYMENT BY BUYER; PAYMENT BY CHECK.
- 14-2-512. PAYMENT BY BUYER BEFORE INSPECTION
- 14-2-513. BUYER’S RIGHT TO INSPECTION OF GOODS.
- 14-2-514. WHEN DOCUMENTS DELIVERABLE ON ACCEPTANCE; WHEN ON PAYMENT.
- 14-2-515. PRESERVING EVIDENCE OF GOODS IN DISPUTE.
- PART 6 - BREACH, REPUDIATION AND EXCUSE
- 14-2-601. BUYER’S RIGHTS ON IMPROPER DELIVERY.
- 14-2-602. MANNER AND EFFECT OF RIGHTFUL REJECTION.
- 14-2-603. MERCHANT BUYER’S DUTIES AS TO RIGHTFULLY REJECTED GOODS.
- 14-2-604. BUYER’S OPTIONS AS TO SALVAGE OF RIGHTFULLY REJECTED GOODS.
- 14-2-605. WAIVER OF BUYER’S OBJECTIONS BY FAILURE TO PARTICULARIZE.
- 14-2-606. WHAT CONSTITUTES ACCEPTANCE OF GOODS.
- 14-2-607. EFFECT OF ACCEPTANCE; NOTICE OF BREACH; BURDENT OF ESTABLISHING BREACH AFTER ACCEPTANCE; NOTICE OF CLAIM OR LITIGATION TO PERSON ANSWERABLE OVER.
- 14-2-608. REVOCATION OF ACCEPTANCE IN WHOLE OR IN PART.
- 14-2-609. RIGHT TO ADEQUATE ASSURANCE OF PERFORMANCE.
- 14-2-610. ANTICIPATORY REPUDIATION.
- 14-2-611. RETRACTION OF ANTICIPATORY REPUDIATION.
- 14-2-612. INSTALLMENT CONTRACT; BREACH.
- 14-2-613. CASUALTY TO IDENTIFIED GOODS.
- 14-2-614. SUBSTITUTED PERFORMANCE.
- 14-2-615. EXUSE BY FAILURE OF PRESUPPOSED CONDITIONS.
- 14-2-616. PROCEDURE ON NOTICE CLAMING EXCUSE.
- PART 7 - REMEDIES
- 14-2-701. REMEDIES FOR BREACH OF COLLATERAL CONTRACTS NOT IMPAIRED.
- 14-2-702. SELLER’S REMEDIES ON DISCOVERY OF BUYER’S INSOLVENCY.
- 14-2-703. SELLER’S REMEDIES IN GENERAL.
- 14-2-704. SELLER’S RIGHT TO IDENTIFY GOODS TO THE CONTRACT NOTWITHSTANDING BREACH OR TO SALVAGE UNFINISHED GOODS.
- 14-2-705. SELLER’S STOPPAGE OF DELIVERY IN TRANSIT OR OTHERWISE.
- 14-2-706. SELLER’S RESALE INCLUDING CONTRACT FOR RESALE.
- 14-2-707. PERSON IN THE POSITION OF A SELLER.
- 14-2-708. SELLER’S DAMAGES FOR NON-ACCEPTANCE OR REPUDIATION.
- 14-2-709. ACTION FOR THE PRICE.
- 14-2-710. SELLER’S INCIDENTAL DAMAGES.
- 14-2-711. BUYER’S REMEDIES IN GENERAL’ BUYER’S SECURITY INTEREST IN REJECTED GOODS.
- 14-2-712. COVER; BUYER’S PROCUREMENT OF SUBSTITUTE GOODS.
- 14-2-713. BUYER’S DAMAGES FOR NON-DELIVERY OR REPUDIATION.
- 14-2-714. BUYER’S DAMAGES FOR BREACH IN REGARD TO ACCEPTED GOODS.
- 14-2-715. BUYER’S INCIDENTAL AND CONSEQUENTIAL DAMAGES.
- 14-2-716. BUYER’S RIGHT TO SPECIFIC PERFORMANCE OR REPLEVIN.
- 14-2-717. DEDUCTION OF DAMAGES FROM THE PRICE.
- 14-2-718. LIQUIDATION OR LIMITATION OF DAMAGES; DEPOSITS.
- 14-2-719. Liquidation or limitation of damages; deposits
- 14-2-720. EFFECT OF CANCELLATION OR RESCISSION ON CLAIMS FOR ANTECEDENT BREACH.
- 14-2-721. REMEDIES FOR FRAUD.
- 14-2-722. WHO CAN SUE THIRD PARTIES FOR INJURY TO GOODS.
- 14-2-723. PROOF OF MARKET PRICE: TIME AND PLACE.
- 14-2-724. ADMISSIBILITY OF MARKET QUOTATIONS.
- 14-2-725. STATUTE OF LIMITATIONS IN CONTRACTS FOR SALE.
14-2-325. LETTER OF CREDIT TERM; CONFIRMED CREDIT.
- Failure of the buyer seasonably to furnish an agreed letter of credit is a breach of the contract for sale.
- The delivery to seller of a proper letter of credit suspends the buyer’s obligation to pay. If the letter of credit is dishonored, the seller may on seasonable notification to the buyer require payment directly from him.
- Unless otherwise agreed the term “letter of credit” or “banker’s credit” in a contract for sale means an irrevocable credit issued by a financing agency of good repute and, where the shipment is overseas, of good international repute. The term “confirmed credit” means that the credit must also carry the direct obligation of such an agency which does business in the seller’s financial market.
Downloadable Forms
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