New Mexico Statutes 55-2-512. Payment by buyer before inspection
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(1) Where the contract requires payment before inspection non-conformity of the goods does not excuse the buyer from so making payment unless:
Terms Used In New Mexico Statutes 55-2-512
- buyer: means a person who buys or contracts to buy goods. See New Mexico Statutes 55-2-103
- Contract: A legal written agreement that becomes binding when signed.
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
(a) the non-conformity appears without inspection; or
(b) despite tender of the required documents the circumstances would justify injunction against honor under the provisions of the Uniform Commercial Code (section 55-5-109 N.M. Stat. Ann.).
(2) Payment pursuant to Subsection (1) of this section does not constitute an acceptance of goods or impair the buyer’s right to inspect or any of his remedies.