Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If VMS rejects the April 1 shipment, what must Rod's do to exercise its right to cure? Required information Performance of Sales Contracts Unless the
If VMS rejects the April 1 shipment, what must Rod's do to exercise its right to cure?
Required information Performance of Sales Contracts Unless the parties have agreed otherwise, the Uniform Commercial Code (UCC) sets out the duties and obligations of each party in performing a sales contract. The seller's obligation is typically to deliver conforming goods to the buyer in accordance with the agreement or the UCC (absent specific agreement). Under the IJCC's perfect tender rule, the seller's obligation is to tender the goods in a manner that matches the contract terms in every respect. If the seller does not deliver a perfect tender, the buyer has several options. However, the seller still has the right to cure (correct or replace any nonconforming goods) under certain circumstances. Read the case below and answer the questions that follow. Rodriquez is the principal of a company that manufactures specialty fishing reels, Rod's Reels, and ships them to retail stores around the United States, including Vineyard Marine Store (VMS)_ On January 2, VMS placed an order for 100 Whale-brand reels to be delivered no later than April 30 Whale was Rod's best-selling reel, and demand for the Whale reels rose as the summer fishing season approached. Fearing a shortage, Rod's shipped VMS 60 Whale-brand reels and 50 of the less-expensive Cheapo-brand reels on April 1 with a letter explaining the potential shortage and listing Rod's Reels efforts to obtain the Whale-brand reels as soon as possible.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started