NON-UCC: 1787 - Constitution for the United States of America - Universal “hard asset - Labor Money” Monetary Corporation. [Labor Tax Exempt and Bankers cannot claim a usury BAR interest.]Full description
Descripción: UNIFORM COMMERCIAL CODE Warehouse Receipts, Bills of Lading and Other Documents of Title - Secured Transactions- Investment Securities
Descripción: UCC1 in detail
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Conditions and warranties in law of contractFull description
an at-a-glance guide for learning UCCFull description
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UCC Information
There are portions of that 'murky bit of prose' known as the law which become understandably simple when retrograded from a conflagration of written words into the flowing paths of pure logi…Full description
Descripción: Brief outline of the UCC
What are UCC's and how to use them.
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UCC WARRANTIES
§ 2-104. "Merchant" "Merchant" -Deals in goods of the kind -By occupation holds himself out as having knowledge or skill peculiar goods involved
§ 2-314 IMPLIED MERCHANTABILITY If seller is merchant, goods must - pass w/o objection in trade - fit for the ordinary purpose for which used - generally what they purport to be - adequately packaged/labeled packaged/labeled
§ 2-315 IMPLIED FIT FOR PARTICULAR PURPOSE Seller knows of particular purpose, buyer relies on seller’s skill to select suitable goods.
§ 2-316(2) FITNESS DISCLAIMER Must be in writing & conspicuous. No req'd form words. (“There are no warranties beyond what’s written here” is sufficient).
UCC § 2-317 Inconsistent Warranties Warranties are cumulative, but if inconsistent, parties' intention determines which dominant. o Exact/techn terms > sample/gen description o Sample > gen description language o Express warranties > implied warranties, EXCEPT implied warranty for fitness for a particular purpose.
§ 2-313 EXPRESS Statements of fact, promise, descriptions, sample/model that become basis of bargain. -Formal words, intent not necessary. - Opinion/"best" Opinion/"best" ! warranty.
§ 2-316(1) DISCLAIMERS DISCLAIMERS -Express warranties and disclaimers disclaimers must be consistent. Inconsistencies Inconsistencies will be constued as consistent (subject to 2-202 parole evidence) -Disclaimer/limits cannot negate the benefit of bargain.
2-316(2) MERCHANT DISCLAIMER DISCLAIMER Merchantability - must mention word “merchantability” (magic word), and if in writing, must be conspicuous.
§2-714(2): Buyer’s Damages re Accepted Goods. Difference remedy: goods accepted v. goods value if they had been warranted
§ 2-316(3) DISCLAIMERS DISCLAIMERS EXCEPTIONS -“As is” / “with all faults” or other "common language" clearing altering buyer excludes all implied warranties - Defects that would have been reasonably revealed by examination are not included -Implied warranty can also be excluded/modified excluded/modified by course of dealing/performance dealing/performance and usage of trade.
§ 2-719 REMEDY LIMITS (1) K can limit remedies to return/refund/repair/r return/refund/repair/replace. eplace. Alt remedy is optional unless expressly agreed, then sole remedy. (2) If limited remedy causes K to fail in its essential purpose, normal UCC K remedies available. (3) Consequential damages can be limited unless unconscionable (e.g. cannot limit re personal injury from good)
§ 2-316(4) Disclaimer Breach Remedies Limited by 2-718 and 2-719
§ 2-718. Liquidation/Deposits Liquidation/Deposits (1) Liquidated Dmgs - Need to be reasonable at beginning and end, only where real dmgs difficult to prove. o If too large = void (no punis). •(2) Buyer return deposit – get back $ paid that exceeds (a) seller liquidated dmgs, (b) if no liquidation, 20% total or $500, whichever smaller. • (3) Buyer’s restitution subject to offset by seller’s dmgs and/or value of benefits buyer received. • (4) If seller received payments in goods, reasonable/resale reasonable/resale value = payments received. Resale subject to 2-706.
