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7-2-327
Section 7-2-327 Special incidents of sale on approval and sale or return. (1) Under a sale
on approval unless otherwise agreed: (a) Although the goods are identified to the contract
the risk of loss and the title do not pass to the buyer until acceptance; and (b) Use of the
goods consistent with the purpose of trial is not acceptance but failure seasonably to notify
the seller of election to return the goods is acceptance, and if the goods conform to the
contract acceptance of any part is acceptance of the whole; and (c) After due notification
of election to return, the return is at the seller's risk and expense, but a merchant buyer
must follow any reasonable instructions. (2) Under a sale or return unless otherwise agreed:
(a) The option to return extends to the whole or any commercial unit of the goods while in
substantially their original condition, but must be exercised seasonably; and (b) The return
is at the buyer's risk and expense. (Acts 1965, No. 549, p. 811.)...
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7-2-709
Section 7-2-709 Action for the price. (1) When the buyer fails to pay the price as it becomes
due the seller may recover, together with any incidental damages under Section 7-2-710, the
price: (a) Of goods accepted or of conforming goods lost or damaged within a commercially
reasonable time after risk of their loss has passed to the buyer; and (b) Of goods identified
to the contract if the seller is unable after reasonable effort to resell them at a reasonable
price or the circumstances reasonably indicate that such effort will be unavailing. (2) Where
the seller sues for the price he must hold for the buyer any goods which have been identified
to the contract and are still in his control except that if resale becomes possible he may
resell them at any time prior to the collection of the judgment. The net proceeds of any such
resale must be credited to the buyer and payment of the judgment entitles him to any goods
not resold. (3) After the buyer has wrongfully rejected or revoked...
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7-2-402
Section 7-2-402 Rights of seller's creditors against sold goods. (1) Except as provided in
subsections (2) and (3), rights of unsecured creditors of the seller with respect to goods
which have been identified to a contract for sale are subject to the buyer's rights to recover
the goods under this article (Sections 7-2-502 and 7-2-716). (2) A creditor of the seller
may treat a sale or an identification of goods to a contract for sale as void if as against
him a retention of possession by the seller is fraudulent under any rule of law of the state
where the goods are situated, except that retention of possession in good faith and current
course of trade by a merchant-seller for a commercially reasonable time after a sale or identification
is not fraudulent. (3) Nothing in this article shall be deemed to impair the rights of creditors
of the seller: (a) Under the provisions of the article on secured transactions (Article 9);
or (b) Where identification to the contract or delivery is made...
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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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7-2A-506
Section 7-2A-506 Statute of limitations. (1) An action for default under a lease contract,
including breach of warranty or indemnity, must be commenced within 4 years after the cause
of action accrued. By the original lease contract the parties may reduce the period of limitation
to not less than one year. (2) A cause of action for default accrues when the act or omission
on which the default or breach of warranty is based is or should have been discovered by the
aggrieved party, or when the default occurs, whichever is later. A cause of action for indemnity
accrues (a) in the case of an indemnity against liability, when the act or omission on which
the claim for indemnity is based is or should have been discovered by the indemnified party,
or when the default occurs, whichever is later, (b) in the case of an indemnity against loss
or damage, when the person indemnified makes payment thereof. A cause of action for damages
for injury to the person in the case of consumer goods accrues...
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7-2A-514
Section 7-2A-514 Waiver of lessee's objections. (1) In rejecting goods, a lessee's failure
to state a particular defect that is ascertainable by reasonable inspection precludes the
lessee from relying on the defect to justify rejection or to establish default: (a) if, stated
seasonably, the lessor or the supplier could have cured it (Section 7-2A-513); or (b) between
merchants if the lessor or the supplier after rejection has made a request in writing for
a full and final written statement of all defects on which the lessee proposes to rely. (2)
A lessee's failure to reserve rights when paying rent or other consideration against documents
precludes recovery of the payment for defects apparent in the documents. (Acts 1992, 2nd Ex.
Sess., No. 92-700, p. 92, §514; Act 2004-315, p. 464, §2.)...
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7-2A-519
Section 7-2A-519 Lessee's damages for nondelivery, repudiation, default, and breach of warranty
in regard to accepted goods. (1) 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 a lessee elects not to cover or a lessee elects
to cover and the cover is by lease agreement that for any reason does not qualify for treatment
under Section 7-2A-518(2), or is by purchase or otherwise, the measure of damages for nondelivery
or repudiation by the lessor or for rejection or revocation of acceptance by the lessee is
the present value, as of the date of the default, of the then market rent minus the present
value as of the same date of the original rent, computed for the remaining lease term of the
original lease agreement, together with incidental and consequential damages, less expenses
saved in consequence of the lessor's default. (2) Market...
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7-2-711
Section 7-2-711 Buyer's remedies in general; buyer's security interest in rejected goods. (1)
Where the seller fails to make delivery or repudiates or the buyer rightfully rejects or justifiably
revokes acceptance, then with respect to any goods involved, and with respect to the whole
if the breach goes to the whole contract (Section 7-2-612), the buyer may cancel, and whether
or not he has done so may, in addition to recovering so much of the price as has been paid:
(a) "Cover" and have damages under Section 7-2-712 as to all the goods affected
whether or not they have been identified to the contract; or (b) Recover damages for nondelivery
as provided in this article (Section 7-2-713). (2) Where the seller fails to deliver or repudiates
the buyer may also: (a) If the goods have been identified recover them as provided in this
article (Section 7-2-502); or (b) In a proper case obtain specific performance or replevy
the goods as provided in this article (Section 7-2-716). (3) On...
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8-21A-4
Section 8-21A-4 Termination, cancellation, or nonrenewal of dealer agreement; sales contract,
etc.; new or relocated dealership; sale or lease of new equipment. (a) Except as provided
in subsection (d), notwithstanding any dealer agreement, sales contract, franchise agreement,
or other agreement by and between dealer and supplier except where grounds for termination
or nonrenewal of a dealer's agreement or a change in his or her competitive position are contained
in subdivisions (1), (2), (3), (4), (5), or (6) of subsection (b), a supplier shall give a
dealer at least 90 days' written notice of the supplier's intent to terminate, cancel, or
not renew a dealer agreement or change the dealer's competitive circumstances. The notice
shall state all reasons relied upon by supplier to show good cause for the action and shall
provide the dealer with a reasonable time in which to correct any claimed deficiency with
a minimum of at least six months. Once mutually agreeable steps have been...
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7-2-716
Section 7-2-716 Buyer's right to specific performance or replevin. (1) Specific performance
may be decreed where the goods are unique or in other proper circumstances. (2) The decree
for specific performance may include such terms and conditions as to payment of the price,
damages, or other relief as the court may deem just. (3) The buyer has a right of replevin
for goods identified to the contract if after reasonable effort he is unable to effect cover
for such goods or the circumstances reasonably indicate that such effort will be unavailing
or if the goods have been shipped under reservation and satisfaction of the security interest
in them has been made or tendered. In the case of goods bought for personal, family, or household
purposes, the buyer's right of replevin vests upon acquisition of a special property, even
if the seller had not then repudiated or failed to deliver. (Acts 1965, No. 549, p. 811; Act
2001-481, p. 647, §2.)...
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