There Is a Newer Version of the New Mexico Statutes
2009 New Mexico Statutes
Chapter 55 - Uniform Commercial Code.
Article 2 - Sales
Part 1 - SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER
- Section 55-2-101 - Short title.
- Section 55-2-102 - Scope; certain security and other transactions excluded from this article.
- Section 55-2-103 - Definitions and index of definitions.
- Section 55-2-104 - Definitions; "merchant"; "between merchants"; "financing agency".
- Section 55-2-105 - Definitions: transferability; "goods"; "future" goods; "lot"; "commercial unit."
- Section 55-2-106 - Definitions: "contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termination"; "cancellation."
- Section 55-2-107 - Goods to be severed from realty; recording.
Part 2 - FORM, FORMATION AND READJUSTMENT OF CONTRACT
- Section 55-2-201 - Formal requirements; statute of frauds.
- Section 55-2-202 - Final written expression; parol or extrinsic evidence.
- Section 55-2-203 - Seals inoperative.
- Section 55-2-204 - Formation in general.
- Section 55-2-205 - Firm offers.
- Section 55-2-206 - Offer and acceptance in formation of contract.
- Section 55-2-207 - Additional terms in acceptance or confirmation.
- Section 55-2-208 - Repealed.
- Section 55-2-209 - Modification, rescission and waiver.
- Section 55-2-210 - Delegation of performance; assignment of rights.
Part 3 - GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT
- Section 55-2-301 - General obligations of parties.
- Section 55-2-302 - Unconscionable contract or clause.
- Section 55-2-303 - Allocation or division of risks.
- Section 55-2-304 - Price payable in money, goods, realty or otherwise.
- Section 55-2-305 - Open price term.
- Section 55-2-306 - Output, requirements and exclusive dealings.
- Section 55-2-307 - Delivery in single lot or several lots.
- Section 55-2-308 - Absence of specified place for delivery.
- Section 55-2-309 - Absence of specific time provisions; notice of termination.
- Section 55-2-310 - Open time for payment or running of credit; authority to ship under reservation.
- Section 55-2-311 - Options and cooperation respecting performance.
- Section 55-2-312 - Warranty of title and against infringement; buyer's obligation against infringement.
- Section 55-2-313 - Express warranties by affirmation, promise, description, sample.
- Section 55-2-314 - Implied warranty: merchantability; usage of trade.
- Section 55-2-315 - Implied warranty: fitness for particular purpose.
- Section 55-2-316 - Exclusion or modification of warranties.
- Section 55-2-317 - Cumulation and conflict of warranties express or implied.
- Section 55-2-318 - Third-party beneficiaries of warranties express or implied.
- Section 55-2-319 - F.O.B. and F.A.S. terms.
- Section 55-2-320 - C.I.F. and C.&F. terms.
- Section 55-2-321 - C.I.F. or C.&F.: "net landed weights"; "payment on arrival"; warranty of condition on arrival.
- Section 55-2-322 - Delivery "ex-ship.".
- Section 55-2-323 - Form of bill of lading required on overseas shipment; "overseas".
- Section 55-2-324 - "No arrival, no sale" term.
- Section 55-2-325 - "Letter of credit" term; "confirmed credit.".
- Section 55-2-326 - Sale on approval and sale or return; rights of creditors.
- Section 55-2-327 - Special incidents of sale on approval and sale or return.
- Section 55-2-328 - Sale by auction.
Part 4 - TITLE, CREDITORS AND GOOD FAITH PURCHASERS
- Section 55-2-401 - Passing of title; reservation for security; limited application of this section.
- Section 55-2-402 - Rights of seller's creditors against sold goods.
- Section 55-2-403 - Power to transfer; good faith purchase of goods; "entrusting".
Part 5 - PERFORMANCE
- Section 55-2-501 - Insurable interest in goods; manner of identification of goods.
- Section 55-2-502 - Buyer's right to goods on seller's repudiation, failure to deliver or insolvency.
- Section 55-2-503 - Manner of seller's tender of delivery.
- Section 55-2-504 - Shipment by seller.
- Section 55-2-505 - Seller's shipment under reservation.
- Section 55-2-506 - Rights of financing agency.
- Section 55-2-507 - Effect of seller's tender; delivery on condition.
- Section 55-2-508 - Cure by seller of improper tender or delivery; replacement.
- Section 55-2-509 - Risk of loss in the absence of breach.
- Section 55-2-510 - Effect of breach on risk of loss.
- Section 55-2-511 - Tender of payment by buyer; payment by check.
- Section 55-2-512 - Payment by buyer before inspection.
- Section 55-2-513 - Buyer's right to inspection of goods.
- Section 55-2-514 - When documents deliverable on acceptance; when on payment.
- Section 55-2-515 - Preserving evidence of goods in dispute.
Part 6 - BREACH, REPUDIATION AND EXCUSE
- Section 55-2-601 - Buyer's rights on improper delivery.
- Section 55-2-602 - Manner and effect of rightful rejection.
- Section 55-2-603 - Merchant buyer's duties as to rightfully rejected goods.
- Section 55-2-604 - Buyer's options as to salvage of rightfully rejected goods.
- Section 55-2-605 - Waiver of buyer's objections by failure to particularize.
- Section 55-2-606 - What constitutes acceptance of goods.
- Section 55-2-607 - Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over.
- Section 55-2-608 - Revocation of acceptance in whole or in part.
- Section 55-2-609 - Right to adequate assurance of performance.
- Section 55-2-610 - Anticipatory repudiation.
- Section 55-2-611 - Retraction of anticipatory repudiation.
- Section 55-2-612 - "Installment contract"; breach.
- Section 55-2-613 - Casualty to identified goods.
- Section 55-2-614 - Substituted performance.
- Section 55-2-615 - Excuse by failure of presupposed conditions.
- Section 55-2-616 - Procedure on notice claiming excuse.
Part 7 - REMEDIES
- Section 55-2-701 - Remedies for breach of collateral contracts not impaired.
- Section 55-2-702 - Seller's remedies on discovery of buyer's insolvency.
- Section 55-2-703 - Seller's remedies in general.
- Section 55-2-704 - Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods.
- Section 55-2-705 - Seller's stoppage of delivery in transit or otherwise.
- Section 55-2-706 - Seller's resale including contract for resale.
- Section 55-2-707 - "Person in the position of a seller.".
- Section 55-2-708 - Seller's damages for nonacceptance or repudiation.
- Section 55-2-709 - Action for the price.
- Section 55-2-710 - Seller's incidental damages.
- Section 55-2-711 - Buyer's remedies in general; buyer's security interest in rejected goods.
- Section 55-2-712 - "Cover"; buyer's procurement of substitute goods.
- Section 55-2-713 - Buyer's damages for nondelivery or repudiation.
- Section 55-2-714 - Buyer's damages for breach in regard to accepted goods.
- Section 55-2-715 - Buyer's incidental and consequential damages.
- Section 55-2-716 - Buyer's right to specific performance or replevin.
- Section 55-2-717 - Deduction of damages from the price.
- Section 55-2-718 - Liquidation or limitation of damages; deposits.
- Section 55-2-719 - Contractual modification or limitation of remedy.
- Section 55-2-720 - Effect of "cancellation" or "rescission" on claims for antecedent breach.
- Section 55-2-721 - Remedies for fraud.
- Section 55-2-722 - Who can sue third parties for injury to goods.
- Section 55-2-723 - Proof of market price; time and place.
- Section 55-2-724 - Admissibility of market quotations.
- Section 55-2-725 - Statute of limitations in contracts for sale.
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