A sale of goods is a present transfer of title to movable property for a price. This price may be a payment of money, an exchange of other property, or the performance of services. The parties to a sale are the person who owns the goods and the person to whom the title is transferred. The transferor is the seller or vendor, and the transferee is the buyer or vendee.
Most goods are tangible and solid, such as an automobile or a chair. But goods may also be fluid, such as oil or gasoline. Goods may also be intangible, such as natural gas and electricity. The UCC is applicable to both new and used goods.
Goods that are physically existing and owned by the seller at the time of the transaction are called existing goods. All other goods are called future goods. Future goods include both goods that are physically existing but not owned by the seller and goods that have not yet been produced .
Before an interest in goods can pass from seller to buyer, the goods must exist, and they must be identified to the contract. For passage of title, goods must be identified in a way that will distinguish them from all similar goods. Identification gives a buyer the right to obtain insurance on goods and the right to recover from third parties who damage goods. Sometimes, identification allows the buyer to take goods from the seller. Regarding future goods, occurs when they are shipped, marked, or otherwise designated as the contract goods.
The Nebraska General Form of Agreement for the Sale of Goods is a legal document that outlines the terms and conditions of a sales transaction involving goods in the state of Nebraska. This agreement is used as a standard template to establish a mutual understanding between the buyer and the seller. Key elements of the Nebraska General Form of Agreement for the Sale of Goods include: 1. Parties: The agreement identifies the buyer and the seller involved in the transaction. It includes their legal names and contact details to ensure accurate identification and communication. 2. Goods: The agreement clearly defines the goods being sold. It includes important details such as the quantity, description, quality, and any applicable specifications or standards. 3. Price and Payment: The agreement outlines the agreed-upon purchase price for the goods and specifies the payment terms, such as the method and timeline for payment. 4. Delivery and Acceptance: This section covers matters related to the delivery of the goods, including who is responsible for transportation, any applicable delivery costs, and the timeframe within which the goods must be delivered. It also addresses the buyer's right to inspect and accept or reject the goods upon delivery. 5. Risk of Loss: This clause determines which party assumes the risk of loss or damage to the goods during transportation or storage. It helps define the point at which the buyer becomes responsible for the goods. 6. Warranties: The agreement may include warranties or guarantees provided by the seller regarding the quality, condition, or performance of the goods. These warranties provide the buyer with certain assurances and rights in case of defects or non-conformity. 7. Remedies and Dispute Resolution: This section clarifies the available remedies for breach of contract or other disputes. It may specify alternatives such as negotiation, mediation, or litigation and may also outline any applicable laws governing the agreement. In addition to the Nebraska General Form of Agreement for the Sale of Goods, there might be other specific types of agreements used in Nebraska based on the nature of the sale. Some examples include: 1. Nebraska Supply Agreement: This agreement is used when one party agrees to supply goods to another party for a specific period or on an ongoing basis. It includes provisions related to pricing, order quantities, delivery schedules, and other relevant terms. 2. Nebraska Purchase Order Agreement: This agreement is used when a buyer issues a purchase order to a seller, specifying the goods, quantity, price, and delivery terms. It serves as a formal document to confirm the buyer's intent to purchase and the seller's acceptance of the order. 3. Nebraska Consignment Agreement: This agreement is used when a party entrusts goods to another party for sale on their behalf. It outlines the terms, compensation, and responsibilities of both the consignor (owner of the goods) and the consignee (seller). It's important to consult legal professionals or access the appropriate legal resources to obtain the most up-to-date and accurate versions of these agreements, as well as to ensure compliance with Nebraska state laws.
