Kentucky Statutes 355.2-508 – Cure by seller of improper tender or delivery — Replacement
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(1) Where any tender or delivery by the seller is rejected because nonconforming and the time for performance has not yet expired, the seller may seasonably notify the buyer of his intention to cure and may then within the contract time make a conforming delivery.
(2) Where the buyer rejects a nonconforming tender which the seller had reasonable grounds to believe would be acceptable with or without money allowance the seller may if he seasonably notifies the buyer have a further reasonable time to substitute a conforming tender.
Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 2-508, effective July 1, 1960.
(2) Where the buyer rejects a nonconforming tender which the seller had reasonable grounds to believe would be acceptable with or without money allowance the seller may if he seasonably notifies the buyer have a further reasonable time to substitute a conforming tender.
Terms Used In Kentucky Statutes 355.2-508
- 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.
- 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. 2-508, effective July 1, 1960.