Chapter 22. Flashcards
(10 cards)
Conforming Goods
Goods that conform to contract specifications
Tender of Delivery
A sellers act of placing conforming goods at the disposal of the buyer and providing whatever notification is reasonably necessary to enable the buyer to take delivery
Installment contract
Requires or authorizes deliveries on two or more separate lots to be accepted and paid for separately
Cover
Remedy that allows the buyer to obtain substitute goods from another seller
Replevin
An action that can be used by a buyer to recover identified goods from a third party who is wrongfully withholding them
Lien
An encumbrance on a property to satisfy a debt or protect a claim for payment of debt
Express warranty
A sellers promise as to the quality, condition, description, or performance of the goods being sold
Implied warranty
Arises due to circumstances of the sale and not from the sellers express promise
Implied warranty of merchantability
A warranty thatgoods being sold are reasonably fit for the general purpose of which they are sold
Implied warranty of fitness for a particular purpose
A warranty that goods sold are fit for a particular purpose for which they will be used