7-2-603
Section 7-2-603 Merchant buyer's duties as to rightfully rejected goods. (1) Subject to any
security interest in the buyer (subsection (3) of Section 7-2-711), when the seller has no
agent or place of business at the market of rejection a merchant buyer is under a duty after
rejection of goods in his possession or control to follow any reasonable instructions received
from the seller with respect to the goods and in the absence of such instructions to make
reasonable efforts to sell them for the seller's account if they are perishable or threaten
to decline in value speedily. Instructions are not reasonable if on demand indemnity for expenses
is not forthcoming. (2) When the buyer sells goods under subsection (1), he is entitled to
reimbursement from the seller or out of the proceeds for reasonable expenses of caring for
and selling them, and if the expenses include no selling commission then to such commission
as is usual in the trade or if there is none to a reasonable sum not...
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7-2A-511
Section 7-2A-511 Merchant lessee's duties as to rightfully rejected goods. (1) Subject to any
security interest of a lessee (Section 7-2A-508(5)), if a lessor or a supplier has no agent
or place of business at the market of rejection, a merchant lessee, after rejection of goods
in his or her possession or control, shall follow any reasonable instructions received from
the lessor or the supplier with respect to the goods. In the absence of those instructions,
a merchant lessee shall make reasonable efforts to sell, lease, or otherwise dispose of the
goods for the lessor's account if they threaten to decline in value speedily. Instructions
are not reasonable if on demand indemnity for expenses is not forthcoming. (2) If a merchant
lessee (subsection (1)) or any other lessee (Section 7-2A-512) disposes of goods, he or she
is entitled to reimbursement either from the lessor or the supplier or out of the proceeds
for reasonable expenses of caring for and disposing of the goods and, if the...
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8-20-4
Section 8-20-4 Unfair and deceptive trade practices. Notwithstanding the terms, provisions,
or conditions of any dealer agreement or franchise or the terms or provisions of any waiver,
prior to the termination, cancellation, or nonrenewal of any dealer agreement or franchise,
the following acts or conduct shall constitute unfair and deceptive trade practices: (1) For
any manufacturer, factory branch, factory representative, distributor, or wholesaler, distributor
branch, or distributor representative to coerce or attempt to coerce any motor vehicle dealer
to do any of the following: a. To accept, buy, or order any motor vehicle or vehicles, appliances,
equipment, parts, or accessories therefor, or any other commodity or commodities or service
or services which such motor vehicle dealer has not voluntarily ordered or requested except
items required by applicable local, state, or federal law; or to require a motor vehicle dealer
to accept, buy, order, or purchase such items in order to...
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7-2-706
Section 7-2-706 Seller's resale including contract for resale. (1) Under the conditions stated
in Section 7-2-703 on seller's remedies, the seller may resell the goods concerned or the
undelivered balance thereof. Where the resale is made in good faith and in a commercially
reasonable manner the seller may recover the difference between the resale price and the contract
price together with any incidental damages allowed under the provisions of this article (Section
7-2-710), but less expenses saved in consequence of the buyer's breach. (2) Except as otherwise
provided in subsection (3) or unless otherwise agreed resale may be at public or private sale
including sale by way of one or more contracts to sell or of identification to an existing
contract of the seller. Sale may be as a unit or in parcels and at any time and place and
on any terms, but every aspect of the sale, including the method, manner, time, place and
terms, must be commercially reasonable. The resale must be reasonably...
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7-2-103
Section 7-2-103 Definitions and index of definitions. (1) In this article unless the context
otherwise requires: (a) "Buyer" means a person who buys or contracts to buy goods.
(b) "Good faith" in the case of a merchant means honesty in fact and the observance
of reasonable commercial standards of fair dealing in the trade. (c) "Receipt" of
goods means taking physical possession of them. (d) "Seller" means a person who
sells or contracts to sell goods. (2) Other definitions applying to this article or to specified
parts thereof and the sections in which they appear are: "Acceptance." Section 7-2-606.
"Banker's credit." Section 7-2-325. "Between merchants." Section 7-2-104.
"Cancellation." Section 7-2-106 (4). "Commercial unit." Section 7-2-105.
"Confirmed credit." Section 7-2-325. "Conforming to contract." Section
7-2-106. "Contract for sale." Section 7-2-106. "Cover." Section 7-2-712.
"Entrusting." Section 7-2-403. "Financing agency." Section 7-2-104. "Future
goods." Section 7-2-105....
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7-2-312
Section 7-2-312 Warranty of title and against infringement; buyer's obligation against infringement.
(1) Subject to subsection (2) there is in a contract for sale a warranty by the seller that:
(a) The title conveyed shall be good, and its transfer rightful; and (b) The goods shall be
delivered free from any security interest or other lien or encumbrance of which the buyer
at the time of contracting has no knowledge. (2) A warranty under subsection (1) will be excluded
or modified only by specific language or by circumstances which give the buyer reason to know
that the person selling does not claim title in himself or that he is purporting to sell only
such right or title as he or a third person may have. (3) Unless otherwise agreed a seller
who is a merchant regularly dealing in goods of the kind warrants that the goods shall be
delivered free of the rightful claim of any third person by way of infringement or the like,
but a buyer who furnishes specifications to the seller must hold...
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7-4-504
Section 7-4-504 Privilege of presenting bank to deal with goods; security interest for expenses.
(a) A presenting bank that, following the dishonor of a documentary draft, has seasonably
requested instructions but does not receive them within a reasonable time may store, sell,
or otherwise deal with the goods in any reasonable manner. (b) For its reasonable expenses
incurred by action under subsection (a), the presenting bank has a lien upon the goods or
their proceeds, which may be foreclosed in the same manner as an unpaid seller's lien. (Acts
1965, No. 549, p. 811; repealed by Acts 1995, No. 95-668, p. 1381, §2; added by Acts 1995,
No. 95-668, p. 1381, §2.)...
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7-2-708
Section 7-2-708 Seller's damages for nonacceptance or repudiation. (1) Subject to subsection
(2) and to the provisions of this article with respect to proof of market price (Section 7-2-723),
the measure of damages for nonacceptance or repudiation by the buyer is the difference between
the market price at the time and place for tender and the unpaid contract price together with
any incidental damages provided in this article (Section 7-2-710), but less expenses saved
in consequence of the buyer's breach. (2) If the measure of damages provided in subsection
(1) is inadequate to put the seller in as good a position as performance would have done then
the measure of damages is the profit (including reasonable overhead) which the seller would
have made from full performance by the buyer, together with any incidental damages provided
in this article (Section 7-2-710), due allowance for costs reasonably incurred and due credit
for payments or proceeds of resale. (Acts 1965, No. 549, p. 811.)...
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8-6-19
Section 8-6-19 Civil liabilities of sellers, agents, etc.; remedies of purchasers. (a) Any
person who: (1) Sells or offers to sell a security in violation of any provision of this article
or of any rule or order imposed under this article or of any condition imposed under this
article, or (2) Sells or offers to sell a security by means of any untrue statement of a material
fact or any omission to state a material fact necessary in order to make the statements made,
in the light of the circumstances under which they are made, not misleading, the buyer not
knowing of the untruth or omission, and who does not sustain the burden of proof that he did
not know and in the exercise of reasonable care could not have known of the untruth or omission,
is liable to the person buying the security from him who may bring an action to recover the
consideration paid for the security, together with interest at six percent per year from the
date of payment, court costs and reasonable attorneys' fees,...
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7-2A-527
Section 7-2A-527 Lessor's rights to dispose of goods. (1) After a default by a lessee under
the lease contract of the type described in Section 7-2A-523(1) or 7-2A-523(3)(a) or after
the lessor refuses to deliver or takes possession of goods (Section 7-2A-525 or 7-2A-526),
or, if agreed, after other default by a lessee, the lessor may dispose of the goods concerned
or the undelivered balance thereof by lease, sale, or otherwise. (2) Except as otherwise provided
with respect to damages liquidated in the lease agreement (Section 7-2A-504) or otherwise
determined pursuant to agreement of the parties (Sections 7-1-302 and 7-2A-503), if the disposition
is by lease agreement substantially similar to the original lease agreement and the new lease
agreement is made in good faith and in a commercially reasonable manner, the lessor may recover
from the lessee as damages (i) accrued and unpaid rent as of the date of the commencement
of the term of the new lease agreement, (ii) the present value,...
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