Notice by Seller to Buyer of Intention to Cure Improper Tender of Goods
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How to fill out Notice By Seller To Buyer Of Intention To Cure Improper Tender Of Goods?
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FAQ
(6) Recover Damages: If the seller repudiates a contract or wrongfully refuses to deliver conforming goods, the buyer can sue to recover the difference between the contract price and the fair market price of the goods (at the time that the buyer learned of the breach), plus incidental and consequential damages, less
The Indian Contract Act lays out the rules of revocation of an offer in Section 5. It says the offer may be revoked anytime before the communication of the acceptance is complete against the proposer/offeror. Once the acceptance is communicated to the proposer, revocation of the offer is now not possible.
By communication of notice: An offer may be revoked by the offeror by giving a notice of revocation to the other party before it is accepted. Notice of revocation will take effect only when it comes to the knowledge of the offeree.
(2) Revocation of acceptance must occur within a reasonable time after the buyer discovers or should have discovered the ground for it and before any substantial change in condition of the goods which is not caused by their own defects. It is not effective until the buyer notifies the sellerof it.
UCC § 2-608 provides that after a buyer has accepted goods, the acceptance may be revoked under the following circumstances: "(1) The buyer may revoke his acceptance of a lot or commercial unit whose non-conformity substantially impairs its value to him if he has accepted it (a) on the reasonable assumption that its
Whoever makes an offer can revoke it as long as it hasn't yet been accepted. This means that if you make an offer and the other party wants some time to think it through, or makes a counteroffer with changed terms, you can revoke your original offer.
Under the Uniform Commercial Code (UCC), if a vendor delivers non conforming goods, the buyer can reject all of the goods, accept all of the goods, or accept some and reject rest of the goods. Rejection of non conforming goods should be made by a buyer in a reasonable time after the goods are delivered.
Sale of Goods and Perfect Tender Rule There are two main exceptions to the perfect tender rule when it comes to the sale of goods. If the contract date has not expired, the seller has the right to inform the buyer that the imperfect tender will be cured before the specified date of delivery.
Remember, your sales contract may limit your options. For example, the contract may state that if the buyer fails to close without good reason, you are entitled to liquidated damages, which is a set amount of money, and that you are not allowed to pursue any other legal remedies.
