TELESEMINAR: Sales Agreements: UCC Article 2 and Practical Considerations – A National Perspective
June 24, 2014
12:00 – 1:00 p.m.
1.00 MCLE hours
UCC Article 2/Sales governs virtually all sales contracts for tangible goods. It imposes detailed requirements for the validity and enforceability of sales contracts, timelines for buyers to accept or reject the delivery of goods, procedures for a seller’s repudiation of contracts, and remedies for a variety of breaches. UCC Article 2 also establishes an extensive framework of express and implied warranties, their general scope and how a seller can disclaim or limit liability, and the measure of a buyer’s damages on breach. Ensuring compliance with UCC Article 2A can be a daunting task and has become challenging with the spread of e-commerce. This program will provide you with a guide to the legal and practical framework of sales contacts under UCC Article 2, including essential elements for validity, the timeline of a contract, seller braches and buyer remedies, express and implied warranties, and much more.
- Legal and practical framework of UCC Article 2/Sales contracts – essential components and red flags
- Timeline of a sales contract – contract period, delivery of product, repudiation by seller, acceptance or rejection by buyer
- Seller’s breach – repudiation, failure to deliver, non-conforming product – and the buyer’s remedies
- Express and implied warranties – disclaimers, limitations, types and measure of damages
- Warranties of merchantability, fitness for a particular purpose, title and against infringement
- Special issues related to installment contacts
- UCC Sales contracts in in e-commerce
Christopher Tompkins, Jenner & Block, LLP, Chicago