ACT 4210 Lecture Notes - Lecture 6: Security Interest, Surety, Crop Yield
Document Summary
What is a merchant"s firm offer? a rain check, and it must be : If the terms of the acceptance do not match the terms of the offer, the terms of the offer control (except in a contract between merchants). When the provider promises to give the reasonable amount he/she has (and it"s reasonable to assume that he/she will have it) or for crop yield. Shipment of nonconforming goods will not operate as an acceptance, but counteroffer if seller notifies the buyer that the shipment is intended as an accommodation. Barring alternative agreements, when does risk of loss (rol) pass to buyer? if seller is a merchant: If shipment contract, when the seller turns over the goods to the carrier. If destination contract, when goods arrive at specified destination. If rejected by buyer, title revests with seller. It arises automatically in the sale of every good.
