§ 55-2-501 Insurable interest in goods; manner of identification of goods
§ 55-2-502 Buyer’s right to goods on seller’s repudiation, failure to deliver or insolvency
§ 55-2-503 Manner of seller’s tender of delivery
§ 55-2-504 Shipment by seller
§ 55-2-505 Seller’s shipment under reservation
§ 55-2-506 Rights of financing agency
§ 55-2-507 Effect of seller’s tender; delivery on condition
§ 55-2-508 Cure by seller of improper tender or delivery;
§ 55-2-509 Risk of loss in the absence of breach
§ 55-2-510 Effect of breach on risk of loss
§ 55-2-511 Tender of payment by buyer; payment by check
§ 55-2-512 Payment by buyer before inspection
§ 55-2-513 Buyer’s right to inspection of goods
§ 55-2-514 When documents deliverable on acceptance; when on payment
§ 55-2-515 Preserving evidence of goods in dispute

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Terms Used In New Mexico Statutes > Chapter 55 > Article 2 > Part 5

  • 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.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • 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.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Docket: A log containing brief entries of court proceedings.
  • 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.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • 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 New Mexico Statutes 55-2-103
  • Statute: A law passed by a legislature.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • 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
  • Verdict: The decision of a petit jury or a judge.