Sales Law:Domestic and International

Sales Law:Domestic and International

by Clayton P. Gillette, Steven D. Walt

Paperback(REV)

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Product Details

ISBN-13: 9781587784477
Publisher: West Academic Publishing
Publication date: 12/01/2002
Series: Concepts and Insights Ser.
Edition description: REV
Pages: 471
Product dimensions: 6.30(w) x 9.06(h) x (d)

Table of Contents

Preface v

Table of Contents ix

Chapter 1 Introduction to Sales Law 1

I Introduction to the Statutory Development of Commercial Law 1

A Article 2 of the UCC 1

B The United Nations Convention on Contracts for the International Sale of Goods 5

II Principles of Sales Contracts - Herein of Default Rules 10

III Commercial Contracts as Discrete and Relational Contracts - Herein of Reputation 15

A Reputation and Relational Contracts 15

B Reputation Without Repetition 17

Chapter 2 Governing Law 21

I Scope of Sales Law Under Article 2 21

A Choice of Law Under the UCC 21

B Transactions within Article 2: Definition of "Goods" 23

C Merchants 27

D Mixed Sales and Services, Software 30

E Leases and Other Transactional Forms 35

II The Scope of the CISG 40

A Choice of Law under the CISG 40

B Types of Transactions Subject to the CISG 49

C Exclusions 51

D Mixed Sales and Service Contracts 53

E Leases 55

F The Principle of Issue-Displacement 56

Chapter 3 Formation of the Contract 59

I Introduction: The Evaluation of Formation Rules 59

II Offer and Acceptance 62

A Article 2's Approach to Formation Rules 62

B Irrevocable Offers Under Article 2 65

C The CISG's Formation Rules 69

1 Opting Out of the CISG's Formation Rules 69

2 The CISG's Formation Rules Illustrated: Six Hypotheticals 70

III Offer-Varying Acceptance: The Battle of the Forms 76

A Under Article 2 76

1 Introduction 76

2 Problems in [section] 2-207's Interpretation 79

B Under the CISG 85

C Section 2-207 and Article 19 Evaluated 91

D Rolling Contracts and Article 2 93

IV Modification 98

A Under Article 2 98

B Under the CISG 105

Chapter 4 Implied Terms113

I Trade Usage, Course of Dealing, Course of Performance 113

A Under the UCC 113

B Under the CISG 120

II Open Terms 125

A Open Price Terms Under the CISG 129

B Open Quantity Terms 134

C Evaluating Supplied Terms: Herein of "Best Efforts" 139

Chapter 5 Formal Requirements 151

I Introduction: Permissive Rules, Mandatory Rules, and Externalities 151

II The Statute of Frauds 153

A Introduction 153

B Justifying the Statute of Frauds 155

C Article 2's Statute of Frauds 157

1 Section 2-201's Statutory Requirements 157

2 Exceptions to the Statute of Frauds 161

3 Ethics and the Statute of Frauds 166

D The CISG and the Statute of Frauds 168

III The Parol Evidence Rule 173

A Article 2's Parol Evidence Rule: [section] 2-202 Outlined 173

B Excluding Trade Usage 176

1 Two Standards of Contradiction 176

2 The Process of Exclusion 179

C Warranties and the Parol Evidence Rule 180

D The CISG and the Parol Evidence Rule 183

1 Is the Parol Evidence Rule Displaced? 183

2 Contracting for the Parol Evidence Rule 188

IV Unconscionability 189

A Under the UCC 189

1 Section 2-302's Standard of Unconscionability 190

2 Unconscionability Applied 192

3 Unconscionability Evaluated 197

B The CISG and the Domestic Law of Unconscionability 198

Chapter 6 Performance 203

I Introduction: Allocating Losses and Monitoring Performance 203

II Insecurity and Adequate Assurances of Performance 205

A Under the UCC 205

1 Introduction 205

2 Demand for Adequate Assurances 207

3 Reasonable Grounds for Insecurity 208

4 Adequate Assurances of Performance 210

B Suspending Performance Under the CISG 211

III Anticipatory Repudiation 214

A Under the UCC 214

B Under the CISG 218

IV Tender, Acceptance, Rejection, Cure Under the UCC 219

A Tender and Inspection 219

B Inspection in Documentary Transactions 222

C Acceptance and Rejection 226

1 Introduction: Neutralizing Strategic Behavior 226

2 Perfect Tender 228

3 What Constitutes Acceptance? 231

a Burden of Proof Concerning Defects 233

b Acts Inconsistent With Seller's Ownership 234

4 Buyer's Obligations on Rejection 237

D Cure 240

1 Introduction 240

2 Technical Requirements 241

3 Curing with a Conforming Tender 243

4 Cure in the Courts: Repair and Interpretation 245

E Revocation of Acceptance 249

1 Introduction 249

2 Substantial Impairment "to Him" 255

3 Post-Revocation Cure 258

V Inspection, Avoidance, and Cure under the CISG 260

A Inspection and Notice of Defects 260

B Cure and Avoidance Under the CISG 264

C The Burden of Proving Nonconformity Under the CISG 270

VI Excuse 274

A Introduction 274

B Under the UCC 275

C Under the CISG 282

Chapter 7 Risk of Loss 293

I Introduction: Loss Allocation in Transactional Settings 293

II Risk of Loss Under the UCC 294

A Risk of Loss Where Seller Retains the Goods 295

B Risk of Loss Where Goods are Held by a Bailee 296

C Risk of Loss During Transit 299

D Opting Out of Risk of Loss Provisions 303

E Risk of Loss in the Event of Breach 305

III Risk of Loss Under the CISG 308

A When Does Risk of Loss Pass? 308

B Risk of Loss in the Event of Breach 314

C Burden of Proof 316

Chapter 8 Warranties 317

I Introduction: Allocating the Risk of Quality 317

II Warranties Under the UCC 320

A Express Warranties 320

1 Who Can Make the Warranty? 320

2 How is the Warranty Created? 320

a Basis of the Bargain 324

b Advertising and Warranty 327

c Post-Bargain Warranties 330

B Implied Warranty of Fitness for a Particular Purpose 331

1 Who Can Make the Warranty? 331

2 How is the Warranty Created? 331

C Implied Warranty of Merchantability 333

1 Who Can Make the Warranty? 333

2 How is the Warranty Created? 335

D Disclaiming Warranties 342

1 Should Warranties be Disclimable? 342

2 Disclaiming Warranties Under [section] 2-316 344

E Who Receives the Benefit of Warranties? Herein of Privity and Personal Injury 347

F Federal Law and UCC Warranties of Quality 351

1 Introduction 351

2 The Magnusson-Moss Warranty Act 351

3 Preemption by Federal Law 356

G Warranty of Good Title 358

III "Warranties" Under the CISG 361

Chapter 9 Remedies 369

I Introduction: Allocating the Loss of Transactional Breakdown 369

II Money Damages 372

A Under the UCC 372

1 Substitute Performance: Resale and Cover Under [section] 2-706(1) and [section] 2-712(1) 372

2 Market Price Damages 378

a Proof Costs 378

b Election of Remedies 381

3 Lost Profits: [section] 2-708(2) 386

a Measuring Lost Profits 387

b Recovering Lost Profits Under [section] 2-708(2) 389

4 The Accepting Buyer's "Value Difference" 395

a [section] 2-714(2)'s Measure of "Value" 395

b The Relation Between [section] 2-714(1) and (2) 395

c Measuring Damages for Breach of Warranty of Title 400

B Under the CISG 403

1 Substitute Performance: Article 75 406

2 Market Price Damages: Article 76 408

3 Reduction of the Price 410

a Article 50's Formula 410

b Article 50's Use 412

c Why Allow Price Reduction? 413

4 Interest and its Calculation 415

III Specific Relief 418

A Under the UCC 418

1 Seller's Action for the Price 418

a [section] 2-709's Technical Requirements 418

b [section] 2-709's Justification 420

2 Specific Performance 422

B Under the CISG 428

1 The Routine Availability of Specific Relief 428

2 Article 28's Restriction of Specific Relief 429

IV Contractually Stipulated Remedies 432

A Liquidated Damages 432

B Remedy Limitations and Damage Exclusions 437

1 Allocating Risk of Nonconformity 437

2 The Relation Between Damage Exclusions and Remedy Limitations 440

C The CISG: Liquidated Damages, Remedy Limitations, and Damage Exclusions 443

Chapter 10 Right to Goods: Bona Fide Purchase and Reclamation 447

I Good Faith Purchase Rules 447

A The Nemo Dat Principle and Its Exceptions 447

B The Reach of "Voluntary Transaction" 453

C "Entrustment" and the Passage of Title 454

II Seller's Right to Recover and Reclaim Goods 457

III Goods-Oriented Remedies Under the CISG 461

Chapter 11 Documentary Sales 465

I Introduction: Allocating Performance Risks 465

II Payment Terms: Letters of Credit and Payment Risks 467

A Introduction 467

B Formal Requirements 473

C Issuer's Duty to Pay: Strict Compliance Standard 475

D Issuer's Duty to Pay: Waiver, Estoppel and Preclusion 484

III The Issuer's Right Not To Pay: The Independence Principle and the Fraud Exception 492

A The Independence Principle 492

B The Fraud Exception 493

1 Two Types of Fraud 494

2 What is Fraud? 497

3 The Protected Class of Presenters: [section] 5-109(a)(1) 501

C Justification 507

1 Justifying [section] 5-109(a)(1)'s Protection 507

2 Justifying the Fraud Exception 511

Table of Cases 517

Index 525

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