§ 55-2-301 General obligations of parties
§ 55-2-302 Unconscionable contract or clause
§ 55-2-303 Allocation or division of risks
§ 55-2-304 Price payable in money, goods, realty or otherwise
§ 55-2-305 Open price term
§ 55-2-306 Output, requirements and exclusive dealings
§ 55-2-307 Delivery in single lot or several lots
§ 55-2-308 Absence of specified place for delivery
§ 55-2-309 Absence of specific time provisions; notice of termination
§ 55-2-310 Open time for payment or running of credit; authority to ship under reservation
§ 55-2-311 Options and cooperation respecting performance
§ 55-2-312 Warranty of title and against infringement; buyer’s obligation against infringement
§ 55-2-313 Express warranties by affirmation, promise, description, sample
§ 55-2-314 Implied warranty: merchantability; usage of trade
§ 55-2-315 Implied warranty: fitness for particular purpose
§ 55-2-316 Exclusion or modification of warranties
§ 55-2-317 Cumulation and conflict of warranties express or implied
§ 55-2-318 Third-party beneficiaries of warranties express or implied
§ 55-2-319 F.O.B. and F.A.S. terms
§ 55-2-320 C.I.F. and C.&F. terms
§ 55-2-321 C.I.F. or C.&F.: “net landed weights”; “payment on arrival”; warranty of condition on arrival
§ 55-2-322 Delivery “ex-ship”
§ 55-2-323 Form of bill of lading required on overseas shipment; “overseas”
§ 55-2-324 “No arrival, no sale” term
§ 55-2-325 “Letter of credit” term; “confirmed credit.”
§ 55-2-326 Sale on approval and sale or return; rights of creditors
§ 55-2-327 Special incidents of sale on approval and sale or return
§ 55-2-328 Sale by auction
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Terms Used In New Mexico Statutes > Chapter 55 > Article 2 > Part 3

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • 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.
  • Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See New Mexico Statutes 55-2-106
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Oath: A promise to tell the truth.
  • 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.
  • Personal property: All property that is not real property.
  • Probate: Proving a will
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • seller: means a person who sells or contracts to sell goods. See New Mexico Statutes 55-2-103
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.