Default and its consequences. Statute of frauds and parol evidence rule -- Terms of the contract (including the law of tender, excuse, and title transfer (2-403)) -- Unconscionability -- Risk of loss -- Buyer's remedies for repudiation, for nondelivery, and for failure to deliver conforming goods (which the buyer refused to keep) -- Seller's remedies -- Buyer's rejection or revocation of acceptance, and seller's right to cure -- Warranty -- Damages for breach of warranty -- Defenses to warranty actions -- Disclaimers of warranty liability and modification of buyer's remedies -- The negotiable instrument -- The holder in due course -- Basic liability arising from stolen instruments and forged signatures -- Reallocation of loss because of fault -- NSF checks, documentary drafts, and forged checks : liability of payors and of collecting banks, final payment, delay -- The payor bank and its customer -- Electronic funds transfers -- Letters of credit -- Scope of Article 9 -- Creation and perfection of enforceable Article 9 interests -- The bankruptcy trustee vs. the Article 9 claimant -- Priority conflicts -- Default and its consequences.
Summary:
"This fully revised 7th Edition will give students a comprehensive introduction to the Uniform Commercial Code without burdening them with unnecessary detail: Articles 1 and 2 (sales), Articles 3, 4, 4A and 5 (payment systems), and Article 9 (secured transactions), as well as related statutes, amendments, regulations, and operating rules. The new edition deals not only with the 1999 revisions to Article 9 but also with the recent revisions to Article 1. This edition also addresses the earlier revisions to Articles 5, 3, and 4. It has limited coverage of the failed attempt to revise Article 2"--Publisher's description.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.