New Mexico Notice to Buyer of Seller's Intention to Make Installment Deliveries
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How to fill out Notice To Buyer Of Seller's Intention To Make Installment Deliveries?
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FAQ
It is the duty of sellers to deliver the goods to the buyer. Then the buyers accept or reject it. If the buyers accept it then he must pay for goods. It is the law of contract of sale.
In a shipment contract, the seller has four duties: (1) to deliver the goods to a carrier; (2) to deliver the goods with a reasonable contract for their transportation; (3) to deliver them with proper documentation for the buyer; and (4) to promptly notify the buyer of the shipment (UCC, Section 2-504).
A buyer is deemed to have accepted the delivery of goods when: He informs the seller that he has accepted the goods; or. Does something to the goods which is inconsistent with the ownership of the seller; or. Retains the goods beyond a reasonable time, without informing the seller that he has rejected them.
Duties of seller He should make an arrangement for the transfer of property to the buyer. He should check whether the goods are delivered properly or not. He should give a proper title to the goods which he has to pass to the buyer. He should deliver the goods according to the terms of the agreement.
Under UCC, Section 2-601(a), rejection is allowed if the seller fails to make a perfect tender. The rejection must be made within a reasonable time after delivery or tender. Once it is made, the buyer may not act as the owner of the goods.
(1) Unless otherwise agreed, the buyer of goods is not bound to accept delivery thereof by instalments.
Buyer's Obligations The characteristics of an international sale of goods contract consists of the obligation of the seller delivering the goods and transfer the property in the goods to the buyer, which for its part agrees to pay the price for the goods and take delivery of them.
(1) Where the seller delivers to the buyer a quantity of goods less than he contracted to sell, the buyer may reject them, but if the buyer accepts the goods so delivered he shall pay for them at the contract rate.
Under the UCC, the primary obligation of a buyer of goods is to pay for the goods. The general rule is that the buyer must accept and pay for the goods when the seller has deliveredor, to use more technical language, tendered delivery ofthe goods.
Rights of the Seller (Section 31)He can make the goods delivered in instalments when so agreed by the buyer. He can have the possession of the goods until the buyer hasn't paid for the goods. He can stop the delivery of goods and resume possession of the goods unless and until the payment is done for the goods.
