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7-2-506
Section 7-2-506 Rights of financing agency. (1) A financing agency by paying or purchasing
for value a draft which relates to a shipment of goods acquires to the extent of the payment
or purchase and in addition to its own rights under the draft and any document of title securing
it any rights of the shipper in the goods including the right to stop delivery and the shipper's
right to have the draft honored by the buyer. (2) The right to reimbursement of a financing
agency which has in good faith honored or purchased the draft under commitment to or authority
from the buyer is not impaired by subsequent discovery of defects with reference to any relevant
document which was apparently regular. (Acts 1965, No. 549, p. 811; Act 2004-315, p. 464,
ยง2.)...
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7-2-719
Section 7-2-719 Contractual modification or limitation of remedy. (1) Subject to the provisions
of subsections (2) and (3) of this section and of Section 7-2-718 on liquidation and limitation
of damages: (a) The agreement may provide for remedies in addition to or in substitution for
those provided in this article and may limit or alter the measure of damages recoverable under
this article, as by limiting the buyer's remedies to return of the goods and repayment of
the price or to repair and replacement of nonconforming goods or parts; and (b) Resort to
a remedy as provided is optional unless the remedy is expressly agreed to be exclusive, in
which case it is the sole remedy. (2) Where circumstances cause an exclusive or limited remedy
to fail of its essential purpose, remedy may be had as provided in this title. (3) Consequential
damages may be limited or excluded unless the limitation or exclusion is unconscionable. Limitation
of consequential damages for injury to the person in the...
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7-2A-308
Section 7-2A-308 Special rights of creditors. (1) A creditor of a lessor in possession of goods
subject to a lease contract may treat the lease contract as void if as against the creditor
retention of possession by the lessor is fraudulent under any statute or rule of law, but
retention of possession in good faith and current course of trade by the lessor for a commercially
reasonable time after the lease contract becomes enforceable is not fraudulent. (2) Nothing
in this article impairs the rights of creditors of a lessor if the lease contract is made
under circumstances which under any statute or rule of law apart from this article would constitute
the transaction a fraudulent transfer or voidable preference. (3) A creditor of a seller may
treat a sale or an identification of goods to a contract for sale as void if as against the
creditor retention of possession by the seller is fraudulent under any statute or rule of
law, but retention of possession of the goods pursuant to a lease...
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37-2-61
Section 37-2-61 Claim for damages. (a) When any property, chattels, or goods have been received
by any transportation company for transportation, and such goods, chattels, or property shall
be lost, destroyed or injured, or shall not be delivered according to the contract of shipment,
the shipper, consignor, consignee, or other person entitled to demand and receive them shall
make out an itemized statement of the goods, property or chattels so lost, destroyed or injured,
or not delivered, setting forth the kind of articles, and the number thereof, and the value
and the extent or amount of damages, and shall, after making, subscribing and swearing to
the same before an officer authorized to administer an oath, deliver the same to the said
transportation company, agent, or officer of said transportation company so receiving said
shipment within 60 days after said loss, destruction, injury, or failure to deliver such goods,
property or chattels. (b) When such verified statement of such...
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7-2-305
Section 7-2-305 Open price term. (1) The parties if they so intend can conclude a contract
for sale even though the price is not settled. In such a case the price is a reasonable price
at the time for delivery if: (a) Nothing is said as to price; or (b) The price is left to
be agreed by the parties and they fail to agree; or (c) The price is to be fixed in terms
of some agreed market or other standard as set or recorded by a third person or agency and
it is not so set or recorded. (2) A price to be fixed by the seller or by the buyer means
a price for him to fix in good faith. (3) When a price left to be fixed otherwise than by
agreement of the parties fails to be fixed through fault of one party, the other may at his
option treat the contract as cancelled or himself fix a reasonable price. (4) Where, however,
the parties intend not to be bound unless the price be fixed or agreed and it is not fixed
or agreed there is no contract. In such a case the buyer must return any goods already...
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7-9A-521
Section 7-9A-521 Uniform form of written financing statement and amendment. (a) Initial financing
statement form. A filing office that accepts written records may not refuse to accept a written
initial financing statement in the following form and format except for a reason set forth
in Section 7-9A-516(b): UCC FINANCING STATEMENT FOLLOW INSTRUCTIONS A. NAME & PHONE OF
CONTACT AT FILER (optional) ___ B. E-MAIL CONTACT AT FILER (optional) ___ C. SEND ACKNOWLEDGMENT
TO: (Name and Address) ___ THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 1. DEBTOR'S NAME:
Provide only one Debtor name (1a or 1b) (use exact, full name; do not omit, modify, or abbreviate
any part of the Debtor's name); if any part of the Individual Debtor's name will not fit in
line 1b, leave all of item 1 blank, check here [ ] and provide the Individual Debtor information
in item 10 of the Financing Statement Addendum (Form UCC1Ad) 1a....
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8-19A-14
Section 8-19A-14 Contract requirements; credit cards; notice of cancellation; returns; purchaser's
rights. (a) A purchase of consumer goods or services ordered as a result of a commercial telephone
solicitation as defined in this chapter, if not followed by a signed written contract, is
not final. If a contract is not made in compliance with this section, it is not valid and
enforceable against the purchaser. The contract made pursuant to a commercial telephone solicitation
shall: (1) Be reduced to writing and be signed by the purchaser. (2) Match the description
of the goods or services as that principally used in the telephone solicitation. (3) Contain
the name, address, telephone number, and registration number of the commercial telephone seller
and the salesperson, the total price of the contract, and a detailed description of the goods
or services being sold. (4) Contain the value or worth of any item, good, or service specified
in Section 8-19A-13, and the basis for the...
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7-7-206
Section 7-7-206 Termination of storage at warehouse's option. (a) A warehouse, by giving notice
to the person on whose account the goods are held and any other person known to claim an interest
in the goods, may require payment of any charges and removal of the goods from the warehouse
at the termination of the period of storage fixed by the document of title or, if a period
is not fixed, within a stated period not less than 30 days after the warehouse gives notice.
If the goods are not removed before the date specified in the notice, the warehouse may sell
them pursuant to Section 7-7-210. (b) If a warehouse in good faith believes that goods are
about to deteriorate or decline in value to less than the amount of its lien within the time
provided in subsection (a) and Section 7-7-210, the warehouse may specify in the notice given
under subsection (a) any reasonable shorter time for removal of the goods and, if the goods
are not removed, may sell them at public sale held not less than...
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7-2-105
Section 7-2-105 Definitions: "Transferability"; "goods"; "future goods";
"lot"; "commercial unit." (1) "Goods" means all things (including
specially manufactured goods) which are movable at the time of identification to the contract
for sale other than the money in which the price is to be paid, investment securities (Article
8) and things in action. "Goods" also includes the unborn young of animals and growing
crops and other identified things attached to realty as described in the section on goods
to be severed from realty (Section 7-2-107). (2) Goods must be both existing and identified
before any interest in them can pass. Goods which are not both existing and identified are
"future goods". A purported present sale of future goods or of any interest therein
operates as a contract to sell. (3) There may be a sale of a part interest in existing identified
goods. (4) An undivided share in an identified bulk of fungible goods is sufficiently identified
to be sold although the quantity...
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7-2-201
Section 7-2-201 Formal requirements; statute of frauds. (1) Except as otherwise provided in
this section a contract for the sale of goods for the price of $500 or more is not enforceable
by way of action or defense unless there is some writing sufficient to indicate that a contract
for sale has been made between the parties and signed by the party against whom enforcement
is sought or by his authorized agent or broker. A writing is not insufficient because it omits
or incorrectly states a term agreed upon, but the contract is not enforceable under this paragraph
beyond the quantity of goods shown in such writing. (2) Between merchants if within a reasonable
time a writing in confirmation of the contract and sufficient against the sender is received
and the party receiving it has reason to know its contents, it satisfies the requirements
of subsection (1) against such party unless written notice of objection to its contents is
given within 10 days after it is received. (3) A contract...
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