Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What are VMS's options upon receiving the April 1 shipment? Required information Performance of Sales Contracts Unless the parties have agreed otherwise, the Uniform Commercial

image text in transcribed

What are VMS's options upon receiving the April 1 shipment?

image text in transcribed

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Tort Law Text Cases And Materials

Authors: Jenny Steele

5th Edition

0198853912, 978-0198853916

More Books

Students also viewed these Law questions

Question

Annoyance about a statement that has been made by somebody

Answered: 1 week ago

Question

Self-confidence

Answered: 1 week ago