Kentucky Statutes 355.2-306 – Output, requirements and exclusive dealings
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(1) A term which measures the quantity by the output of the seller or the requirements of the buyer means such actual output or requirements as may occur in good faith, except that no quantity unreasonably disproportionate to any stated estimate or in the absence of a stated estimate to any normal or otherwise comparable prior output or requirements may be tendered or demanded.
(2) A lawful agreement by either the seller or the buyer for exclusive dealing in the kind of goods concerned imposes unless otherwise agreed an obligation by the seller to use best efforts to supply the goods and by the buyer to use best efforts to promote their sale.
Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 2-306, effective July 1, 1960.
(2) A lawful agreement by either the seller or the buyer for exclusive dealing in the kind of goods concerned imposes unless otherwise agreed an obligation by the seller to use best efforts to supply the goods and by the buyer to use best efforts to promote their sale.
Terms Used In Kentucky Statutes 355.2-306
- Buyer: means a person who buys or contracts to buy goods. See Kentucky Statutes 355.2-103
- 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
Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 2-306, effective July 1, 1960.