North Carolina General Statutes 25-2-301. General obligations of parties
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In North Carolina General Statutes 25-2-301
- Buyer: means a person who buys or contracts to buy goods. See North Carolina General Statutes 25-2-103
- Contract: A legal written agreement that becomes binding when signed.
- 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 North Carolina General Statutes 25-2-103
The obligation of the seller is to transfer and deliver and that of the buyer is to accept and pay in accordance with the contract. (1965, c. 700, s. 1.)