BBG 231 Lecture Notes - Lecture 9: Tunxis Community College, Specific Performance
6 Jan 2021
School
Department
Course
Professor
Tunxis Community College
Business Law
Notes
Areas to remember for Exam (50 questions) ***
Exception to statute of frauds regarding sale of real estate?
1. A seller, who orally agrees to sell real estate, takes a down payment, and; allows
the buyer to take possession, will not be able to defend (win) an action for specific
performance by the buyer on the grounds that the agreements is not in writing
2. In a personal services contract, illegality of the services to be performed will
cause the discharge of a party’s duties.
3. A contract in violation of a licensing statute that is intended to raise revenue is not
as like to be declared illegal, as” a contract to commit a crime; a contract
requiring the commission of a Tort, or; an exculpatory clause that seeks to relieve
one of the parties of liability for fraud.
4. A contract that contains an exculpatory clause (***) releasing one of the parties
from any liability for negligent or wrongful behavior is generally nonenforceable
as a matter of public policy.
Place of Delivery
• If the contract does not indicate where the goods will be delivered, then the place of
delivery will be one of the following:
1. the seller's place of business
2. the seller's residence, if the seller has no business location
3. the location of the goods, if both parties know at the time of contracting that the
goods are located somewhere other than the seller's business
Shipment Contracts
• Under the shipment contract, unless otherwise agreed, the seller must do the following:
1. Place the goods into the hands of the carrier
2. Make a contract for their transportation that is reasonable according to the nature
of the goods and their value
3. Obtain and promptly deliver or tender to the buyer any documents necessary to
enable the buyer to obtain possession of the goods from carrier
4. Promptly notify the buyer that shipment has been made
Buyer's Duties
• Payment. Unless the contract states otherwise, UCC says they pay at the time of the
delivery with any payment unless contract states otherwise
• Right to inspect the goods buyer purchasing, unless the contract provides otherwise
• If you are not accepting goods you must tell the seller why (defect, different product)
• Buyer can accept goods
• Buyer can reject goods
• Can revoke acceptance
Acceptance – occurs when the buyer signifies to the seller that she is accepting the goods or the
