Title 5 — Uniform Commercial Code
40 chapters · 413 sections in this title.
5 CMC § 2719 Contractual Modification or Limitation of Remedy
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2719. Contractual Modification or Limitation of Remedy. (1) Subject to the provisions of subsections (2) and (3) of this section and of 5 CMC § 2718 on liquidation and limitation of damages: (a) The agreement may provide for re…
5 CMC § 2720 Effect of "Cancellation" or "Rescission" on Claims for Antecedent Breach
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2720. Effect of “Cancellation” or “Rescission” on Claims for Antecedent Breach. Unless the contrary intention clearly appears, expressions of “cancellation” or “rescission” of the contract or the like shall not be construed as …
5 CMC § 2721 Remedies for Fraud
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2721. Remedies for Fraud. Remedies for material misrepresentation or fraud include all remedies available under this division for non-fraudulent breach. Neither rescission or a claim for rescission of the contract for sale nor …
5 CMC § 2722 Who Can Sue Third Parties for Injury to Goods
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2722. Who Can Sue Third Parties for Injury to Goods. Where a third party so deals with goods which have been identified to a contract for sale as to cause actionable injury to a party to that contract: (a) A right of action aga…
5 CMC § 2723 Proof of Market Price: Time and Place
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2723. 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 (5 CMC §…
5 CMC § 2724 Admissibility of Market Quotations
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2724. Admissibility of Market Quotations. Whenever the prevailing price or value of any goods regularly bought and sold in any established commodity market is in issue, reports in official publications or trade journals or in n…
5 CMC § 2725 Statute of Limitations in Contract for Sale
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 2: SALES § 2725. Statute of Limitations in Contracts for Sale. (1) An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. By the original agreement the parties may reduce t…
5 CMC § 3701 Letter of Advice of International Sight Draft
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3701. Letter of Advice of International Sight Draft. (1) A “letter of advice” is a drawer’s communication to the drawee that a described draft has been drawn. (2) Unless otherwise agreed when a bank receives from ano…
5 CMC § 3801 Drafts in a Set
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3801. Drafts in a Set. (1) Where a draft is drawn in a set of parts, each of which is numbered and expressed to be an order only if no other part has been honored, the whole of the parts constitutes one draft but a t…
5 CMC § 3802 Effect of Instrument on Obligation for Which It Is Given
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3802. Effect of Instrument on Obligation for Which It Is Given. (1) Unless otherwise agreed where an instrument is taken for an underlying obligation: (a) The obligation is pro tanto discharged if a bank is drawer, m…
5 CMC § 3803 Notice to Third Party
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3803. Notice to Third Party. Where a defendant is sued for breach of an obligation for which a third person is answerable over under this division he may give the third person written notice of the litigation, and th…
5 CMC § 3804 Lost, Destroyed or Stolen Instruments
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3804. Lost, Destroyed or Stolen Instruments. The owner of an instrument which is lost, whether by destruction, theft or otherwise, may maintain an action in his own name and recover from any party liable thereon upon…
5 CMC § 3805 Instruments Not Payable to Order or to Bearer
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TITLE 5: UNIFORM COMMERCIAL CODE DIVISION 3: COMMERCIAL PAPER § 3805. Instruments Not Payable to Order or to Bearer. This division applies to any instrument whose terms do not preclude transfer and which is otherwise negotiable within this division but which is not payable to ord…