Kentucky Statutes 355.2-301 – General obligations of parties
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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.
Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 2-301, effective July 1, 1960.
Effective: July 1, 1960
Terms Used In Kentucky Statutes 355.2-301
- Buyer: means a person who buys or contracts to buy goods. See Kentucky Statutes 355.2-103
- 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 Kentucky Statutes 355.2-103
History: Created 1958 Ky. Acts ch. 77, sec. 2-301, effective July 1, 1960.