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New Hampshire Notice by Buyer of Rejection of Goods - Risk of Loss Remains on Seller

Category:
Civil Actions - Notices
State:
Multi-State
Control #:
US-02882BG
Format:
Word; 
Rich Text
Instant download
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Description

In this form the buyer giving notice of its rejecting delivery of the goods. This is covered by Section 2-602 of the Uniform Commercial Code, which state:


Rejection of goods must be within a reasonable time after their delivery or tender. It is ineffective unless the buyer seasonably notifies the seller. Subject to the provisions of the two following sections on rejected goods (Sections 2-603 and 2-604). After rejection any exercise of ownership by the buyer with respect to any commercial unit is wrongful as against the seller; and


" If the buyer has before rejection taken physical possession of goods in which he does not have a security interest under the provisions of this Article (subsection (3) of Section 2-711), he is under a duty after rejection to hold them with reasonable care at the seller's disposition for a time sufficient to permit the seller to remove them; but


" The buyer has no further obligations with regard to goods rightfully rejected.

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How to fill out Notice By Buyer Of Rejection Of Goods - Risk Of Loss Remains On Seller?

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FAQ

Risk of loss is the allocation of responsibility for covering the Risk of damage to or loss of goods after a sale has been completed, but before delivery. If the seller bears risk of loss during transport, the seller has a responsibility to provide substitute goods should the goods get lost or destroyed in transit.

The Uniform Commercial Code (UCC) § 2?509 allocates the risk of loss when there is no contractual breach, and shifts the risk of loss to the buyer when the seller or bailee take certain steps to deliver the goods in certain circumstances.

For instance, the sellers bear the risk when they keep the goods for a buyer until the buyer takes possession of them. The ?sale on approval? is when the seller bears the risk of loss. A buyer must contractually accept the delivered goods before the sale is final.

With a shipment contract, the buyer bears the risk of loss for the goods prior to actually receiving them. Here, the seller's only duty is to get the goods to a common carrier and make proper delivery arrangements for the goods to get to the seller.

The Uniform Commercial Code (UCC) § 2?509 allocates the risk of loss when there is no contractual breach, and shifts the risk of loss to the buyer when the seller or bailee take certain steps to deliver the goods in certain circumstances.

So if there is a breach by the seller (delivery of nonconforming goods), the risk of loss never shifts except if the buyer has taken possession of the nonconforming goods; in that case, the buyer does have the risk of loss insofar as her insurance covers the loss.

Goods being sold remain at the seller's risk until the property in the goods is transferred to the one who buys the goods known as the buyer. Once this property is passed, the goods are at the buyer's risk even if the delivery has not been made. This is what passing of risk means in the business world.

Goods Held by the Seller: If the seller is a merchant, risk of loss passes to the buyer at the time he or she takes physical possession of the goods. If the seller is a non-merchant, risk of loss passes to the buyer when the seller tenders the goods to the buyer.

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