QST LA 450 Lecture Notes - Lecture 11: American Express, Commercial Paper, Negotiable Instrument
Document Summary
Shipping: 2-715(2) are consequential damages allowed, consequential: higher costs, such as expected profits, court says they can recover consequential damages as long as they can calculate it in a reasonable format. Issue of good faith: penbridge farms did not act in good faith because they knew how to determine gender, but failed to do so, also lied that the emus had reproduced. Commercial paper: commercial paper is a contract to pay money. It can be: a substitute for money, a loan of money. To be negotiable: must be in writing, must be signed by the maker, order to pay, unconditional promise to pay, payable on demand or at a definite time, payable to order or to bearer. Non-negotiable instrument: you can still get paid but you have the same rights as the person who made the original contract, you don"t get more, covered by common law not ucc.
