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7-2-510
Section 7-2-510 Effect of breach on risk of loss. (1) Where a tender or delivery of
goods so fails to conform to the contract as to give a right of rejection the risk of their
loss remains on the seller until cure or acceptance. (2) Where the buyer rightfully revokes
acceptance he may to the extent of any deficiency in his effective insurance coverage treat
the risk of loss as having rested on the seller from the beginning. (3) Where the buyer as
to conforming goods already identified to the contract for sale repudiates or is otherwise
in breach before risk of their loss has passed to him, the seller may to the extent of any
deficiency in his effective insurance coverage treat the risk of loss as resting on the buyer
for a commercially reasonable time. (Acts 1965, No. 549, p. 811.)...
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7-2-323
Section 7-2-323 Form of bill of lading required in overseas shipment; "overseas."
(1) Where the contract contemplates overseas shipment and contains a term C.I.F. or C. &
F. or F.O.B. vessel, the seller unless otherwise agreed must obtain a negotiable bill of lading
stating that the goods have been loaded on board or, in the case of a term C.I.F. or C. &
F., received for shipment. (2) Where in a case within subsection (1) a tangible bill of lading
has been issued in a set of parts, unless otherwise agreed if the documents are not to be
sent from abroad the buyer may demand tender of the full set; otherwise only one part of the
bill of lading need be tendered. Even if the agreement expressly requires a full set: (a)
Due tender of a single part is acceptable within the provisions of this article on cure of
improper delivery (subsection (1) of Section 7-2-508); and (b) Even though the full
set is demanded, if the documents are sent from abroad the person tendering an incomplete
set may...
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7-2-321
Section 7-2-321 C.I.F. or C. & F.: "Net landed weights"; "payment
on arrival"; warranty of condition on arrival. Under a contract containing a term C.I.F.
or C. & F.: (1) Where the price is based on or is to be adjusted according to "net
landed weights," "delivered weights," "out turn" quantity or quality
or the like, unless otherwise agreed the seller must reasonably estimate the price. The payment
due on tender of the documents called for by the contract is the amount so estimated, but
after final adjustment of the price a settlement must be made with commercial promptness.
(2) An agreement described in subsection (1) or any warranty of quality or condition of the
goods on arrival places upon the seller the risk of ordinary deterioration, shrinkage and
the like in transportation but has no effect on the place or time of identification to the
contract for sale or delivery or on the passing of the risk of loss. (3) Unless otherwise
agreed where the contract provides for payment on or...
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7-2-513
Section 7-2-513 Buyer's right to inspection of goods. (1) Unless otherwise agreed and
subject to subsection (3), where goods are tendered or delivered or identified to the contract
for sale, the buyer has a right before payment or acceptance to inspect them at any reasonable
place and time and in any reasonable manner. When the seller is required or authorized to
send the goods to the buyer, the inspection may be after their arrival. (2) Expenses of inspection
must be borne by the buyer but may be recovered from the seller if the goods do not conform
and are rejected. (3) Unless otherwise agreed and subject to the provisions of this article
on C.I.F. contracts (subsection (3) of Section 7-2-321), the buyer is not entitled
to inspect the goods before payment of the price when the contract provides: (a) For delivery
"C.O.D." or on other like terms; or (b) For payment against documents of title,
except where such payment is due only after the goods are to become available for inspection....
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27-17A-10
Section 27-17A-10 Certificate required. (a) No person may sell a preneed contract without
first having a valid certificate of authority. (b)(1) No person may receive any funds for
payment on a preneed contract who does not hold a valid certificate of authority. (2) Any
preneed transaction in which a buyer pays to the seller before need, in whole or in part,
a purchase price for funeral or cemetery merchandise and services, and in which the seller
is not obligated to deliver the contracted for merchandise or to perform the services until
need, in whole or in part, shall be evidenced by a written preneed contract satisfying the
requirements of this chapter and signed by the seller and the purchaser. No person may receive
or accept any form of consideration in such a transaction without a fully signed written preneed
contract. A transaction not evidenced by a signed written preneed contract shall be voidable
at the election of the buyer and, if such election is made, the seller shall...
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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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40-18-86
Section 40-18-86 Sale or transfer of real property and associated tangible property
by nonresidents. (a) As used in this section, the term nonresident of Alabama shall
include individuals, trusts, partnerships, corporations, and unincorporated organizations.
Any seller or transferor who meets all of the following conditions and who provides the buyer
or transferee with an affidavit signed under oath swearing or affirming that all of the following
conditions are met will be deemed a resident for purposes of this section: (1) The
seller or transferor has filed Alabama income tax returns or appropriate extensions have been
received for the two income tax years immediately preceding the year of sale. (2) The seller
or transferor is in business in Alabama and will continue substantially the same business
in Alabama after the sale or the seller or transferor has real property remaining in the state
at the time of closing of equal or greater value than the withholding tax liability as...
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5-19A-2
Section 5-19A-2 Definitions. The following words and phrases shall have the following
meanings: (1) APPROPRIATE LAW ENFORCEMENT AGENCY. The sheriff of each county in which the
pawnbroker maintains an office, or the police chief of the municipality in which the pawnbroker
maintains an office. (2) ATTORNEY GENERAL. The Attorney General of the State of Alabama. (3)
PAWN TRANSACTION. Any loan on the security of pledged goods or any purchase of pledged goods
on condition that the pledged goods are left with the pawnbroker and may be redeemed or repurchased
by the seller for a fixed price within a fixed period of time. A "pawn transaction"
does not include the pledge to, or the purchase by, a pawnbroker of real or personal property
from a customer followed by the sale or the leasing of that property back to the customer
in the same or a related transaction. (4) PAWNBROKER. Any person engaged in the business of
lending money on the security of pledged goods left in pawn, or in the business of...
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7-1-201
Section 7-1-201 General definitions. (a) [Reserved]. (b) Subject to additional definitions
contained in the subsequent articles of this title which are applicable to specific articles
or parts thereof, and unless the context otherwise requires, in this title: (1) "Action,"
in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in
equity, and any other proceeding in which rights are determined. (2) "Aggrieved party"
means a party entitled to pursue a remedy. (3) "Agreement," as distinguished from
"contract," means the bargain of the parties in fact, as found in their language
or inferred from other circumstances, including course of performance, course of dealing,
or usage of trade as provided in Section 7-1-303. (4) "Bank" means a person
engaged in the business of banking and includes a savings bank, savings and loan association,
credit union, and trust company. (5) "Bearer" means a person in possession of a
negotiable instrument, document of title, or...
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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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