North Carolina Sale of Goods, General

• Category: Contracts - Sale of Goods
• State: Multi-State
• Control #: US-01691-AZ
• Format: Word; Rich Text

Description

This form is an Agreement for the Sale of Goods. The seller has agreed to sell to purchaser the goods described in an exhibit attached to the form. The goods must conform to the specifications set forth in the exhibit. North Carolina General Statutes Article 2 of Chapter 25, titled "Sale of Goods," governs the regulations and laws related to the sale of goods in the state of North Carolina. This set of laws establishes the rights and obligations of parties involved in the sale, purchase, and delivery of goods within the state. Let's explore some important aspects and keywords related to North Carolina Sale of Goods, General. 1. Scope and Definitions: The North Carolina Sale of Goods Act applies to all contracts for the sale of goods, both new and used, unless otherwise specified. "Goods" are defined as tangible personal property that can be moved from one location to another. 2. Contract Formation: The Act outlines the requirements for a valid contract, which include the offer and acceptance, consideration, and the intention to create legal relations. The contract may be in writing or implied, depending on the circumstances. 3. Price and Payment: The parties are free to agree on the price of the goods. However, if no specific price is mentioned, a reasonable price at the time of delivery should be paid. The Act suggests that payment in a legal tender (e.g., cash, check, credit card) is preferred but allows alternative means as agreed by both parties. 4. Delivery, Acceptance, and Inspection: The Act sets out rules for the delivery of goods, including the place and time of delivery. It establishes that the buyer has a right to inspect the goods before accepting them, ensuring that they conform to the contract. 5. Warranties: North Carolina Sale of Goods Act recognizes both express and implied warranties. Express warranties are made by the seller through statements, representations, or descriptions of the goods. Implied warranties can be merchantability (goods fit for their ordinary purpose) or fitness for a particular purpose. 6. Remedies for Breach: In case of a breach of contract, the Act provides various remedies for both the buyer and the seller. These may include specific performance, remedy of cover, damages, or cancellation of the contract. 7. Statute of Limitations: It is crucial to note that there is a specific time period within which a party must bring a legal action related to a breach of contract. In North Carolina, the general statute of limitations for breach of sales contracts is usually four years from the date of breach. These are the key aspects of North Carolina General Sale of Goods. Remember, it is always advisable to consult the official statutes and legal counsel for a comprehensive understanding of the law.

North Carolina General Statutes Article 2 of Chapter 25, titled "Sale of Goods," governs the regulations and laws related to the sale of goods in the state of North Carolina. This set of laws establishes the rights and obligations of parties involved in the sale, purchase, and delivery of goods within the state. Let's explore some important aspects and keywords related to North Carolina Sale of Goods, General. 1. Scope and Definitions: The North Carolina Sale of Goods Act applies to all contracts for the sale of goods, both new and used, unless otherwise specified. "Goods" are defined as tangible personal property that can be moved from one location to another. 2. Contract Formation: The Act outlines the requirements for a valid contract, which include the offer and acceptance, consideration, and the intention to create legal relations. The contract may be in writing or implied, depending on the circumstances. 3. Price and Payment: The parties are free to agree on the price of the goods. However, if no specific price is mentioned, a reasonable price at the time of delivery should be paid. The Act suggests that payment in a legal tender (e.g., cash, check, credit card) is preferred but allows alternative means as agreed by both parties. 4. Delivery, Acceptance, and Inspection: The Act sets out rules for the delivery of goods, including the place and time of delivery. It establishes that the buyer has a right to inspect the goods before accepting them, ensuring that they conform to the contract. 5. Warranties: North Carolina Sale of Goods Act recognizes both express and implied warranties. Express warranties are made by the seller through statements, representations, or descriptions of the goods. Implied warranties can be merchantability (goods fit for their ordinary purpose) or fitness for a particular purpose. 6. Remedies for Breach: In case of a breach of contract, the Act provides various remedies for both the buyer and the seller. These may include specific performance, remedy of cover, damages, or cancellation of the contract. 7. Statute of Limitations: It is crucial to note that there is a specific time period within which a party must bring a legal action related to a breach of contract. In North Carolina, the general statute of limitations for breach of sales contracts is usually four years from the date of breach. These are the key aspects of North Carolina General Sale of Goods. Remember, it is always advisable to consult the official statutes and legal counsel for a comprehensive understanding of the law.