UCC Miscellaneous

Question 1

UCC Misc

Remedies Available to Both Buyer and Seller

Answer 1

1. Action Against 3rd Party

Under the UCC, a seller may sue for damaged or destroyed goods where a third party is at fault if seller has a security interest.

Under the UCC, a buyer may sue for damaged or destroyed good where a third party is at fault if the good have been identified to the contract.

2. SOL

Under the UCC, action for breach of a contract msut be commenced within four years after the breach occurs.

* Breach of Warranty - begins when delivery is made

* Modification of Period - may reduce 4 years down to no less than one, but may not extend past four.

Question 2

UCC Misc

Rights of Third Parties

Answer 2

1. Voidable Title - if buyer obtains title unlawfully, then title is voidable, however purchaser may acquire good title if one of four very weird events occur.
2. Entrustment -
3. Theft - good faith purchases of stolen goods cuts off rights of true owner only if the buyer has made improvements to the goods or the true owner indicated that the thief had good title to the goods.