Maryland Code, COMMERCIAL LAW 2-301
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, COMMERCIAL LAW 2-301
- Buyer: means a person who buys or contracts to buy goods. See
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Seller: means a person who sells or contracts to sell goods. See
The obligation of the seller is to transfer and deliver and that of the buyer is to accept and pay in accordance with the contract.