A. What are the obligations of the seller under a shipment contract? b. What are the obligations of the seller under a destination contract?
a. Under a shipment contract the seller is required to send the goods to the buyer, but the contract does not obligate the seller to deliver them at a particular destination. Under a shipment contract the seller is required to: 1. deliver the goods to a carrier, 2. make a contract for their transportation that is reasonable according to the nature of the goods and other circumstances; 3. obtain and promptly deliver or tender to the buyer any document necessary to enable the buyer to obtain possession of the goods from the carrier; and 4. promptly notify the buyer of the shipment. UCC Section 2-504.
b. A destination contract requires the seller to tender delivery of conforming goods at a specified destination. The seller must place the goods at the buyer's disposition and give the buyer reasonable notice to enable him to take delivery. If the destination contract involves documents of title, the seller must tender the necessary documents. UCC Section 2-503.
You might also like to view...
______ costs are frequently the largest part of total production costs at today’s business organizations.
A. Waste B. Equity C. Expectancy D. Compensation
Explain the importance of the Railway Labor Act to the development of national labor legislation.
What will be an ideal response?
Using another's trademark in a meta tag does not normally constitute trademark infringement, even if it is done without the owner's permission
Indicate whether the statement is true or false
One reason that writing options can be a viable and profitable investment strategy is that
A) the option writer collects the quarterly dividends. B) most options expire unexercised. C) an option writer determines when the option is exercised. D) an option writer can exercise the option to avoid a potential loss.