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§ 2106. Definitions: "contract"; "agreement"; "contract for
sale"; "sale"; "present sale"; "conforming" to
contract; "termination"; "cancellation."
(a) "Contract", "agreement", "sale".--In this division
unless the context otherwise requires "contract" and "agreement"
are limited to those relating to the present or future sale of
goods. "Contract for sale" includes both a present sale of goods
and a contract to sell goods at a future time. A "sale" consists
in the passing of title from the seller to the buyer for a price
(section 2401). A "present sale" means a sale which is
accomplished by the making of the contract.
(b) "Conforming" to contract.--Goods or conduct including
any part of a performance are "conforming" or conform to the
contract when they are in accordance with the obligations under
the contract.
(c) "Termination".--"Termination" occurs when either party
pursuant to a power created by agreement or law puts an end to
the contract otherwise than for its breach. On "termination" all
obligations which are still executory on both sides are
discharged but any right based on prior breach or performance
survives.
(d) "Cancellation".--"Cancellation" occurs when either party
puts an end to the contract for breach by the other and its
effect is the same as that of "termination" except that the
cancelling party also retains any remedy for breach of the whole
contract or any unperformed balance.
Cross References. Section 2106 is referred to in sections
2103, 2A103, 7102, 9102 of this title.
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Last modified: November 27, 2007 |