Title 5 — Uniform Commercial Code
40 chapters · 413 sections in this title.
5 CMC § 2601 Buyer's Rights on Improper Delivery
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2601. Buyer’s Rights on Improper Delivery. Subject to the provisions of this division on breach in installment contracts (5 CMC § 2612) and unless otherwise agreed under the sections on contractual limitations of remedy (5 CMC …
5 CMC § 2602 Manner and Effect of Rightful Rejection
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2602. Manner and Effect of Rightful Rejection. (1) Rejection of goods must be within a reasonable time after their delivery or tender. It is ineffective unless the buyer seasonably notifies the seller. (2) Subject to the provis…
5 CMC § 2603 Merchant Buyer's Duties as to Rightfully Rejected Goods
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2603. Merchant Buyer’s Duties as to Rightfully Rejected Goods. (1) Subject to any security interest in the buyer (5 CMC § 2711(3)), when the seller has no agent or place of business at the market of rejection a merchant buyer i…
5 CMC § 2604 Buyer's Options as to Salvage of Rightfully Rejected Goods
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2604. Buyer’s Options as to Salvage of Rightfully Rejected Goods. Subject to the provisions of the immediately preceding section on perishables if the seller gives no instructions within a reasonable time after notification of …
5 CMC § 2605 Waiver of Buyer's Objections by Failure to Particularize
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2605. Waiver of Buyer’s Objections by Failure to Particularize. (1) The buyer’s failure to state in connection with rejection a particular defect which is ascertainable by reasonable inspection precludes him from relying on the…
5 CMC § 2606 What Constitutes Acceptance of Goods
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2606. What Constitutes Acceptance of Goods. (1) Acceptance of goods occurs when the buyer: (a) After a reasonable opportunity to inspect the goods signifies to the seller that the goods are conforming or that he will take or re…
5 CMC § 2607 Effect of Acceptance; Notice of Breach; Burden on Establishing Breach After Acceptance; Notice of Claim or Litigation to Person Answerable Over
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2607. Effect of Acceptance; Notice of Breach; Burden of Establishing Breach After Acceptance; Notice of Claim or Litigation to Person Answerable Over. (1) The buyer must pay at the contract rate for any goods accepted. (2) Acce…
5 CMC § 2608 Revocation of Acceptance in Whole or in Part
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2608. Revocation of Acceptance in Whole or in Part. (1) The buyer may revoke his acceptance of a lot or commercial unit whose non-conformity substantially impairs its value to him if he has accepted it: (a) On the reasonable as…
5 CMC § 2609 Right to Adequate Assurance of Performance
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2609. Right to Adequate Assurance of Performance. (1) A contract for sale imposes an obligation on each party that the other’s expectation of receiving due performance will not be impaired. When reasonable grounds for insecurit…
5 CMC § 2610 Anticipatory Repudiation
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2610. Anticipatory Repudiation. When either party repudiates the contract with respect to a performance not yet due the loss of which will substantially impair the value of the contract to the other, the aggrieved party may: (a…
5 CMC § 2611 Retraction of Anticipatory Repudiation
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2611. Retraction of Anticipatory Repudiation. (1) Until the repudiating party’s next performance is due he can retract his repudiation unless the aggrieved party has since the repudiation canceled or materially changed his posi…
5 CMC § 2612 "Installment Contract"; Breach
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2612. “Installment Contract”; Breach. (1) An “installment contract” is one which requires or authorizes the delivery of goods in separate lots to be separately accepted, even though the contract contains a clause “each delivery…
5 CMC § 2613 Casualty to Identified Goods
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2613. Casualty to Identified Goods. Where the contract requires for its performance goods identified when the contract is made, and the goods suffer casualty without fault of either party before the risk of loss passes to the b…
5 CMC § 2614 Substituted Performance
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2614. Substituted Performance. (1) Where without fault of either party the agreed berthing, loading, or unloading facilities fail or an agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becom…
5 CMC § 2615 Excuse by Failure of Presupposed Conditions
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2615. Excuse by Failure of Presupposed Conditions. Except so far as a seller may have assumed a greater obligation and subject to 5 CMC § 2614 on substituted performance: (a) Delay in delivery or non-delivery in whole or in par…
5 CMC § 2616 Procedure on Notice Claiming Excuse
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2616. Procedure on Notice Claiming Excuse. (1) Where the buyer receives notification of a material or indefinite delay or an allocation justified under 5 CMC § 2615 he may by written notification to the seller as to any deliver…
5 CMC § 3601 Discharge of Parties
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3601. Discharge of Parties. (1) The extent of the discharge of any party from liability on an instrument is governed by the sections on: (a) Payment or satisfaction (5 CMC § 3603); or (b) Tender of payment (5 CMC § 3…
5 CMC § 3602 Effect of Discharge Against Holder in Due Course
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3602. Effect of Discharge Against Holder in Due Course. No discharge of any party provided by this division is effective against a subsequent holder in due course unless he has notice thereof when he takes the instru…
5 CMC § 3603 Payment or Satisfaction
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3603. Payment or Satisfaction. (1) The liability of any party is discharged to the extent of his payment or satisfaction to the holder even though it is made with knowledge of a claim of another person to the instrum…
5 CMC § 3604 Tender of Payment
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3604. Tender of Payment. (1) Any party making tender of full payment to a holder when or after it is due is discharged to the extent of all subsequent liability for interest, costs and attorney’s fees. (2) The holder…
5 CMC § 3605 Cancellation and Renunciation
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3605. Cancellation and Renunciation. (1) The holder of an instrument may even without consideration discharge any party: (a) In any manner apparent on the face of the instrument or the indorsement, as by intentionall…
5 CMC § 3606 Impairment of Recourse or of Collateral
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3606. Impairment of Recourse or of Collateral. (1) The holder discharges any party to the instrument to the extent that without such party’s consent the holder: (a) Without express reservation of rights releases or a…
5 CMC § 7601 Lost and Missing Documents
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 7: WAREHOUSE RECEIPTS, ETC. § 7601. Lost and Missing Documents. (1) If a document has been lost, stolen or destroyed, a court may order delivery of the goods or issuance of a substitute document and the bailee may without liability to any…
5 CMC § 7602 Attachment of Goods Covered by a Negotiable Document
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 7: WAREHOUSE RECEIPTS, ETC. § 7602. Attachment of Goods Covered by a Negotiable Document. Except where the document was originally issued upon delivery of the goods by a person who had no power to dispose of them, no lien attaches by virt…
5 CMC § 7603 Conflicting Claims; Interpleader
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 7: WAREHOUSE RECEIPTS, ETC. § 7603. Conflicting Claims; Interpleader. If more than one person claims title or possession of the goods, the bailee is excused from delivery until he has had a reasonable time to ascertain the validity of the…