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.

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Terms Used In Arizona Laws 47-2301

  • Buyer: means a person who buys or contracts to buy goods. See Arizona Laws 47-2103
  • 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 Arizona Laws 47-2103