COB 218 Lecture Notes - Lecture 10: Baseball Card

• School: JMU
• Department: College of Business
• Course: COB 218
• Professor: Kenneth Alger

Document Summary

Ucc is national, we want to promote commerce. A carpenter who has a yard sale and sells a goldfish tank: not a fish tank merchant. Someone who works at a rug store & sells a rug: yes a rug merchant. Someone who works at a rug store & sells a baseball card: not a merchant. Article 2 & 2a modify common law contract rules. Mirror-image rule: you are to perfor(cid:373) a (cid:373)irror i(cid:373)age of (cid:449)hat"s i(cid:374) the (cid:272)o(cid:374)tra(cid:272)t (cid:449)he(cid:374) you ha(cid:448)e two merchants. Object within time: promotes commercial activity. Consideration has to be in writing, but there are three exceptions: specifically manufactured goods, admissions, partial performances. Perfect tender rule: perfectly tender goods as requested. Right of inspection: before you accept. Does(cid:374)"t ha(cid:448)e to a(cid:272)(cid:272)ept e(cid:448)erythi(cid:374)g, (cid:272)a(cid:374) o(cid:374)ly a(cid:272)(cid:272)ept part of (cid:449)hat they are (cid:271)uyi(cid:374)g. Title warranties: can automatically arise in sales & lease contracts. Express warranties: concerns the quality, condition, description, or performance potential of the goods.