7-2A-524
Section 7-2A-524 Lessor's right to identify goods to lease contract. (1) A lessor aggrieved
under Section 7-2A-523(1) may: (a) identify to the lease contract conforming goods not already
identified if at the time the lessor learned of the default they were in the lessor's or the
supplier's possession or control; and (b) dispose of goods (Section 7-2A-527(1)) that demonstrably
have been intended for the particular lease contract even though those goods are unfinished.
(2) If the goods are unfinished, in the exercise of reasonable commercial judgment for the
purposes of avoiding loss and of effective realization, an aggrieved lessor or the supplier
may either complete manufacture and wholly identify the goods to the lease contract or cease
manufacture and lease, sell, or otherwise dispose of the goods for scrap or salvage value
or proceed in any other reasonable manner. (Acts 1992, 2nd Ex. Sess., No. 92-700, p. 92, §524.)...

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7-9A-627
Section 7-9A-627 Determination of whether conduct was commercially reasonable. (a) Greater
amount obtainable under other circumstances; no preclusion of commercial reasonableness. The
fact that a greater amount could have been obtained by a collection, enforcement, disposition,
or acceptance at a different time or in a different method from that selected by the secured
party is not of itself sufficient to preclude the secured party from establishing that the
collection, enforcement, disposition, or acceptance was made in a commercially reasonable
manner. (b) Dispositions that are commercially reasonable. A disposition of collateral is
made in a commercially reasonable manner if the disposition is made: (1) in the usual manner
on any recognized market; (2) at the price current in any recognized market at the time of
the disposition; or (3) otherwise in conformity with reasonable commercial practices among
dealers in the type of property that was the subject of the disposition. (c)...
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11-50-270
Section 11-50-270 Completion of sale pursuant to final determination of commission or court;
effect of failure of seller to tender deed, etc., or of board to accept deed, pay purchase
price, etc. The owner shall have 30 days after a final determination by the Public Service
Commission or the courts to notify the waterworks board of its acceptance of such determination
and shall have a further period of 30 days to tender a good and sufficient deed of conveyance
to the waterworks board of the property required by the order of the commission or the court
to be purchased by placing such deed in escrow with the commission or the court, as the case
may be, and to comply with all other terms and conditions of the order or judgment. The waterworks
board shall have 60 days from the date of the deposit of the deed in escrow to accept or reject
such deed and, if it accepts, the waterworks board shall have a further period of 60 days
to pay to the owner the price determined as provided in this...
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7-2-104
Section 7-2-104 Definitions: "Merchant"; "between merchants"; "financing
agency." (1) "Merchant" means a person who deals in goods of the kind or otherwise
by his occupation holds himself out as having knowledge or skill peculiar to the practices
or goods involved in the transaction or to whom such knowledge or skill may be attributed
by his employment of an agent or broker or other intermediary who by his occupation holds
himself out as having such knowledge or skill. (2) "Financing agency" means a bank,
finance company or other person who in the ordinary course of business makes advances against
goods or documents of title or who by arrangement with either the seller or the buyer intervenes
in ordinary course to make or collect payment due or claimed under the contract for sale,
as by purchasing or paying the seller's draft or making advances against it or by merely taking
it for collection whether or not documents of title accompany or are associated with the draft.
"Financing...
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7-2-723
Section 7-2-723 Proof of market price: Time and place. (1) If an action based on anticipatory
repudiation comes to trial before the time for performance with respect to some or all of
the goods, any damages based on market price (Section 7-2-708 or Section 7-2-713) shall be
determined according to the price of such goods prevailing at the time when the aggrieved
party learned of the repudiation. (2) If evidence of a price prevailing at the times or places
described in this article is not readily available the price prevailing within any reasonable
time before or after the time described or at any other place which in commercial judgment
or under usage of trade would serve as a reasonable substitute for the one described may be
used, making any proper allowance for the cost of transporting the goods to or from such other
place. (3) Evidence of a relevant price prevailing at a time or place other than the one described
in this article offered by one party is not admissible unless and...
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7-7-504
Section 7-7-504 Rights acquired in absence of due negotiation; effect of diversion; stoppage
of delivery. (a) A transferee of a document of title, whether negotiable or nonnegotiable,
to which the document has been delivered but not duly negotiated, acquires the title and rights
that its transferor had or had actual authority to convey. (b) In the case of a transfer of
a nonnegotiable document of title, until but not after the bailee receives notice of the transfer,
the rights of the transferee may be defeated: (1) By those creditors of the transferor which
could treat the transfer as void under Section 7-2-402 or 7-2A-308; (2) By a buyer from the
transferor in ordinary course of business if the bailee has delivered the goods to the buyer
or received notification of the buyer's rights; (3) By a lessee from the transferor in ordinary
course of business if the bailee has delivered the goods to the lessee or received notification
of the lessee's rights; or (4) As against the bailee, by...
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7-9A-620
Section 7-9A-620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory
disposition of collateral. (a) Conditions to acceptance in satisfaction. Except as otherwise
provided in subsection (g), a secured party may accept collateral in full or partial satisfaction
of the obligation it secures only if: (1) the debtor consents to the acceptance under subsection
(c); (2) the secured party does not receive, within the time set forth in subsection (d),
a notification of objection to the proposal authenticated by: (A) a person to which the secured
party was required to send a proposal under Section 7-9A-621; or (B) any other person, other
than the debtor, holding an interest in the collateral subordinate to the security interest
that is the subject of the proposal; (3) if the collateral is consumer goods, the collateral
is not in the possession of the debtor when the debtor consents to the acceptance; and (4)
subsection (e) does not require the secured party to...
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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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27-17A-31
Section 27-17A-31 Deposits into trust; trustee responsibilities; interests in funds. (a) Any
person who is paid, collects, or receives funds under a preneed contract for funeral services
or funeral merchandise to be funded by trust shall deposit in trust an amount at least equal
to the sum of 75 percent of the amount collected on the purchase price for all funeral services
and funeral merchandise sold, transportation, and facilities rented other than outer burial
containers, 60 percent of the amount collected on the purchase price for outer burial containers,
110 percent of the wholesale cost of memorials from the amount collected on the purchase price
of memorials, and 100 percent of the amount collected on the purchase price for all cash advance
items sold. (b) All deposits shall be made within 30 days after the end of the calendar month
in which the preneed contract is paid in full, unless, prior to that time, all liabilities
of the seller under the preneed contract to deliver the...
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7-2-107
Section 7-2-107 Goods to be severed from realty; recording. (1) A contract for the sale of
minerals or the like (including oil and gas) or a structure or its materials to be removed
from realty is a contract for the sale of goods within this article if they are to be severed
by the seller, but until severance a purported present sale thereof which is not effective
as a transfer of an interest in land is effective only as a contract to sell. (2) A contract
for the sale apart from the land of growing crops or other things attached to realty and capable
of severance without material harm thereto but not described in subsection (1) is a contract
for the sale of goods within this article whether the subject matter is to be severed by the
buyer or by the seller even though it forms part of the realty at the time of contracting,
and the parties can by identification effect a present sale before severance. (3) The provisions
of this section are subject to any third-party rights provided by the...
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