LSB 4323 Exam 2.docx

Primary Obligations - correct answer * Seller - tender conforming goods * Buyer - accept and pay for the conforming goods Tender of Delivery Obligations - correct answer 1 Reasonable notice: Timeliness and the manner for which the seller gives the buyer notice that the goods are ready 2 Reasonable time of tender : Make the goods available for pickup at a reasonable time (not hey pick these up at 4 am) 3 Available for a reasonable time: Not - Hey goods can be picked up for 30 minutes 4 Reasonable manner: Catch all phrase if goods were ever given unreasonably Default Rules relevant to Tender - place of delivery & installment delivery - correct answer seller's place of business or location of goods, delivery in multiple pieces or payments with each satisfying tender obligations Tender obligations for shipment contracts - correct answer * Deliver to courier * Reasonable contract to ship * Deliver relevant documents to buyer - ex: receipt for goods or title to pick them up * Notify buyer - varies from contract to contract Tender Obligations for destination contracts - correct answer * Tender at a reasonable hour * Hold for reasonable length of time * Notice * Appropriate documentation The Perfect Tender Rule - correct answer If goods/ tender fail in any respect to conform to the contract, the buyer can: 1 Accept 2 Reject 3 Accept part and reject part * Subject to Good Faith for the contract Exceptions to the Perfect Tender Rule - correct answer 1) goods or the tender of goods fail in a manner that substantially impairs the value of the installment in any respect - buyer can: accept, reject, cancel 2) seller can cure - give correct goods 3) commercial impracticability - (really big) unforeseeable event occurs to make the contract un-performable 4) partial impracticability - seller has an obligation to distribute goods fairly and reasonably 5) destruction of identified goods If performance depends on cooperation of another and they do NOT cooperate - correct answer Delay -associated delays are excused Perform - the cooperating party can perform in any reasonable manner Breach - The contract can be deemed breached if no cooperation after time for performance of material part of contract Right of Inspection - correct answer Buyer has absolute right to inspection before payment Scope of inspection - correct answer depends on the nature of the goods ex: water bottle-fast inspection car-slower,longer inspection Who normally bears the inspection costs of a good - correct answer the buyer unless the goods are non-conforming in which the buyer may be reimbursed by the seller