Right to adequate assurance of performance. Promptly notify the buyer of the shipment. A sale consists in the passing of title from the seller to the buyer for a price (s. 672.401). View Entire Chapter. 97-102; s. 14, ch. Where identification to the contract or delivery is made not in current course of trade but in satisfaction of or as security for a preexisting claim for money, security or the like and is made under circumstances which under any rule of law of the state where the goods are situated would apart from this chapter constitute the transaction a fraudulent transfer or voidable preference. 93-77; s. 576, ch. Other definitions applying to this chapter, or to specified parts thereof, and the sections in which they appear are: The following definitions in other chapters apply to this chapter: In addition chapter 671 contains general definitions and principles of construction and interpretation applicable throughout this chapter. s. 1, ch. 65-254; s. 4, ch. 2001-198. The price is to be fixed in terms of some agreed market or other standard as set or recorded by a third person or agency and it is not so set or recorded. . s. 1, ch. Any retention or reservation by the seller of the title (property) in goods shipped or delivered to the buyer is limited in effect to a reservation of a security interest. s. 1, ch. Power to transfer; good faith purchase of goods; entrusting.. When goods have been delivered under a transaction of purchase the purchaser has such power even though: The transferor was deceived as to the identity of the purchaser, or, The delivery was in exchange for a check which is later dishonored, or, It was agreed that the transaction was to be a cash sale, or. However, no exemption applies in cases where the seller knowingly sells cattle or hogs that are diseased. (f) A statement that the owner has, before recording the notice of termination, served a copy of the notice of termination on the contractor and on each lienor who has a direct contract with the owner or who has served a notice to owner. Subject to the provisions of subsections (2) and (3) of this section and of the preceding section on liquidation and limitation of damages: The agreement may provide for remedies in addition to or in substitution for those provided in this chapter and may limit or alter the measure of damages recoverable under this chapter, as by limiting the buyers remedies to return of the goods and repayment of the price or to repair and replacement of nonconforming goods or parts; and. Where the contract provides for successive performances but is indefinite in duration it is valid for a reasonable time but unless otherwise agreed may be terminated at any time by either party. Express warranties by the seller are created as follows: Any affirmation of fact or promise made by the seller to the buyer which relates to the goods and becomes part of the basis of the bargain creates an express warranty that the goods shall conform to the affirmation or promise. Definitions: merchant; between merchants; financing agency., Definitions: transferability; goods; future goods; lot; commercial unit., Definitions: contract; agreement; contract for sale; sale; present sale; conforming to contract; termination; cancellation.. 97-102; s. 1, ch. & F. or F.O.B. 97-102. Subject to subsection (2) there is in a contract for sale a warranty by the seller that: The title conveyed shall be good, and its transfer rightful; and. 97-102; s. 13, ch.
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