Lecture Business law with UCC applications (13/e): Chapter 14 - Brown, Sukys

Chapter 14 - Sales contracts rights, duties, breach, and warranties. After completing this chapter, students will be able to: Describe what is meant by tender of performance, outline the rights and duties of sellers and buyers in a sales contract, explain the doctrine of anticipatory breach, discuss the seller’s and the buyer’s remedies in case of a breach,...

Business Law with UCC Applications,13e Sales Contracts Rights, Duties, Breach, and Warranties Chapter 14 McGraw­Hill/Irwin         Copyright © 2013 by The McGraw­Hill Companies, Inc. All rights reserved Learning Objectives Describe what is meant by tender of performance Outline the rights and duties of sellers and buyers in a sales contract Explain the doctrine of anticipatory breach Discuss the seller’s and the buyer’s remedies in case of a breach Define the term statute of limitations 14­2 Learning Objectives (cont.) Describe the three ways in which an express warranty may be created State the requirements of the Magnuson-Moss Warranty Act Differentiate among the implied warranties of fitness for a particular purpose, merchantability, and usage of trade Explain the meaning of a warranty of title 10.Recognize the ways in which warranties may be excluded 14­3 Sales Contracts Rights, Duties, Breach, and Warranties • Rights and Duties of the Parties – Tender of Performance – Buyer’s Rights and Duties – Seller’s Rights and Duties 14­4 Sales Contracts Rights, Duties, Breach, and Warranties • Tender of Performance – Making proper tender – Tender of payment by buyer 14­5 Sales Contracts Rights, Duties, Breach, and Warranties • Buyer’s rights and duties – Rejection of goods by the buyer – Acceptance of goods by the buyer – Revocation of acceptance 14­6 Sales Contracts Rights, Duties, Breach, and Warranties • Breach of Contract – Anticipatory Breach – Seller’s Remedies – Buyer’s Remedies – The Commercial Court 14­7 Sales Contracts Rights, Duties, Breach, and Warranties • Seller’s remedies – Withhold or stop the delivery of goods – Resell the goods – Damages – Sue for price – Cancel the contract 14­8 Sales Contracts Rights, Duties, Breach, and Warranties • Buyer’s remedies – Cover the sale or sue for breach – Keep goods and seek adjustment – Sue for specific performance 14­9 Sales Contracts Rights, Duties, Breach, and Warranties • Warranty Protection – Express Warranties – Implied Warranties – Warranty of Title – Warranty Exclusion – Privity Not Required 14­10 Sales Contracts Rights, Duties, Breach, and Warranties • Express warranties – Statement of fact or promise – Advertising express warranties – Descriptions, samples, and models – Magnuson-Moss Warranty Act 14­11 Sales Contracts Rights, Duties, Breach, and Warranties • Implied warranties – Merchantability – Fitness for a particular purpose – Usage of trade 14­12 ... Court 14? ?7 Sales Contracts Rights, Duties, Breach, and Warranties • Seller’s remedies – Withhold or stop the delivery of goods – Resell the goods – Damages – Sue for price – Cancel the contract 14? ?8... – Magnuson-Moss Warranty Act 14? ?11 Sales Contracts Rights, Duties, Breach, and Warranties • Implied warranties – Merchantability – Fitness for a particular purpose – Usage of trade 14? ?12 ... buyer 14? ?5 Sales Contracts Rights, Duties, Breach, and Warranties • Buyer’s rights and duties – Rejection of goods by the buyer – Acceptance of goods by the buyer – Revocation of acceptance 14? ?6