Michigan Compiled Laws 174-1962-2-3 Part 3 General Obligation And Construction Of Contract (440.2301...440.2328)

• Section 440.2301 Obligations Of Seller And Buyer.
  The obligation of the seller is to transfer and deliver and that of the buyer is to accept and pay in accordance with the...
• Section 440.2302 Unconscionable Contract Or Clause.
  (1) If the court as a matter of law finds the contract or any clause of the contract to have been unconscionable at the...
• Section 440.2303 Allocation Or Division Of Risk Or Burden.
  Where this article allocates a risk or a burden as between the parties “unless otherwise agreed”, the agreement may not only shift the allocation...
• Section 440.2304 Price; Payment In Money, Goods, Realty, Or Otherwise.
  (1) The price can be made payable in money or otherwise. If it is payable in whole or in part in goods each party...
• Section 440.2305 Open Price Term; Fixed Price.
  (1) The parties if they so intend can conclude a contract for sale even though the price is not settled. In such a case...
• Section 440.2306 Output Of Seller; Requirement Of Buyer; Exclusive Dealing.
  (1) A term which measures the quantity by the output of the seller or the requirements of the buyer means such actual output or...
• Section 440.2307 Delivery In Single Lot Or Several Lots; Payment.
  Unless otherwise agreed all goods called for by a contract for sale must be tendered in a single delivery and payment is due only...
• Section 440.2308 Place For Delivery Of Goods And Documents Of Title.
  Unless otherwise agreed (a) the place for delivery of goods is the seller's place of business or if he has none his residence; but...
• Section 440.2309 Time Of Performance; Contract Termination.
  (1) The time for shipment or delivery or any other action under a contract if not provided in this article or agreed upon shall...
• Section 440.2310 Open Time And Place For Payment Or Running Of Credit; Shipment Under Reservation; Inspection.
  Unless otherwise agreed, all of the following apply: (a) Payment is due at the time and place at which the buyer is to receive...
• Section 440.2311 Specification Of Performance; Assortment And Shipment Of Goods; Remedies.
  (1) An agreement for sale which is otherwise sufficiently definite (subsection (3) of section 2204) to be a contract is not made invalid by...
• Section 440.2312 Warranties Of Title; Freedom From Liens.
  (1) Subject to subsection (2) there is in a contract for sale a warranty by the seller that (a) the title conveyed shall be...
• Section 440.2313 Creation Of Express Warranties By Seller.
  (1) Express warranties by the seller are created as follows: (a) An affirmation of fact or promise made by the seller to the buyer...
• Section 440.2313b Express Warranty; Extension; Merchant Or Warrantor To Give Purchaser Writing Stating Time Period.
  An express warranty covering goods sold to a purchaser in this state shall be extended by a period equal to the number of days...
• Section 440.2314 Implied Warranty; Merchantability, Course Of Dealing, Usage Of Trade.
  (1) Unless excluded or modified (section 2316), a warranty that the goods shall be merchantable is implied in a contract for their sale if...
• Section 440.2315 Implied Warranty; Fitness For Particular Purpose.
  Where the seller at the time of contracting has reason to know any particular purpose for which the goods are required and that the...
• Section 440.2316 Words Or Conduct Relevant To Creation Of Express Warranty And Tending To Negate Or Limit Warranty; Construction; Excluding Or Modifying Implied Warranty Of Merchantability And Implied Warranty Of Fitness; Language; Example; Limiting Remedies For Breach Of Warranty.
  (1) Words or conduct relevant to the creation of an express warranty and words or conduct tending to negate or limit warranty shall be...
• Section 440.2317 Warranties; Cumulation And Conflict.
  Warranties whether express or implied shall be construed as consistent with each other and as cumulative, but if such construction is unreasonable the intention...
• Section 440.2318 Warranties; Third Party Beneficiaries.
  A seller's warranty whether express or implied extends to any natural person who is in the family or household of his buyer or who...
• Section 440.2319 F. O. B. And F. A. S. Terms.
  (1) Unless otherwise agreed the term F.O.B. (which means “free on board”) at a named place, even though used only in connection with the...
• Section 440.2320 C. I. F. And C. & F. Terms.
  (1) The term C.I.F. means that the price includes in a lump sum the cost of the goods and the insurance and freight to...
• Section 440.2321 C. I. F. And C. & F. Terms, Net Landed Weights, Delivered Weights, Out Turn; Warranty Of Condition On Arrival, Inspection Before Payment.
  Under a contract containing a term C.I.F. or C. & F. (1) Where the price is based on or is to be adjusted according...
• Section 440.2322 Delivery Exship.
  (1) Unless otherwise agreed a term for delivery of goods “exship” (which means from the carrying vessel) or in equivalent language is not restricted...
• Section 440.2323 Overseas Shipment; Bill Of Lading, Form.
  (1) If a contract contemplates overseas shipment and contains a term C.I.F. or C. & F. or F.O.B. vessel, the seller unless otherwise agreed...
• Section 440.2324 No Arrival, No Sale Terms.
  Under a term “no arrival, no sale” or terms of like meaning, unless otherwise agreed, (a) the seller must properly ship conforming goods and...
• Section 440.2325 Letter Of Credit Or Banker's Credit; Confirmed Credit; Definitions.
  (1) Failure of the buyer seasonably to furnish an agreed letter of credit is a breach of the contract for sale. (2) The delivery...
• Section 440.2326 Transaction As “sale On Approval” Or “sale Or Return” If Delivered Goods Returnable By Buyer; Claims Of Creditors; Effect Of “or Return” Term Of Contract For Sale; Work Of Fine Art Not Subject To Claims Of Art Dealer's Creditors; “art Dealer,”“commission,” And “fine Art” Defined.
  (1) Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is: (a)...
• Section 440.2327 Sale On Approval; Sale Or Return; Special Incidents.
  (1) Under a sale on approval unless otherwise agreed (a) although the goods are identified to the contract the risk of loss and the...
• Section 440.2328 Sale By Auction; Sale With Reserve; Forced Sale.
  (1) In a sale by auction if goods are put up in lots each lot is the subject of a separate sale. (2) A...

Last modified: October 10, 2016