§ 25-2-101 Short title
§ 25-2-102 Scope; certain security and other transactions excluded from this article
§ 25-2-103 Definitions and index of definitions
§ 25-2-104 Definitions: “Merchant”; “between merchants”; “financing agency.”
§ 25-2-105 Definitions: “Transferability”; “goods”; “future” goods; “lot”; “commercial unit.”
§ 25-2-106 Definitions: “Contract”; “agreement”; “contract for sale”; “sale”; “present sale”; “layaway contract”; “conforming” to contract; “termination”; “cancellation.”
§ 25-2-107 Goods to be severed from realty; recording
§ 25-2-201 Formal requirements; statute of frauds
§ 25-2-202 Final written expression; parol or extrinsic evidence
§ 25-2-203 Seals inoperative
§ 25-2-204 Formation in general
§ 25-2-205 Firm offers
§ 25-2-206 Offer and acceptance in formation of contract
§ 25-2-207 Additional terms in acceptance or confirmation
§ 25-2-209 Modification, rescission and waiver
§ 25-2-210 Delegation of performance; assignment of rights
§ 25-2-301 General obligations of parties
§ 25-2-302 Unconscionable contract or clause
§ 25-2-303 Allocation or division of risks
§ 25-2-304 Price payable in money, goods, realty, or otherwise
§ 25-2-305 Open price term
§ 25-2-306 Output, requirements and exclusive dealings
§ 25-2-307 Delivery in single lot or several lots
§ 25-2-308 Absence of specified place for delivery
§ 25-2-309 Absence of specific time provisions; notice of termination
§ 25-2-310 Open time for payment or running of credit; authority to ship under reservation
§ 25-2-311 Options and cooperation respecting performance
§ 25-2-312 Warranty of title and against infringement; buyer’s obligation against infringement
§ 25-2-313 Express warranties by affirmation, promise, description, sample
§ 25-2-314 Implied warranty: Merchantability; usage of trade
§ 25-2-315 Implied warranty: Fitness for particular purpose
§ 25-2-316 Exclusion or modification of warranties
§ 25-2-317 Cumulation and conflict of warranties express or implied
§ 25-2-318 Third party beneficiaries of warranties express or implied
§ 25-2-319 F.O.B. and F.A.S. terms
§ 25-2-320 C.I.F. and C. & F. terms
§ 25-2-321 C.I.F. or C. & F.: “Net landed weights”; “payment on arrival”; warranty of condition on arrival
§ 25-2-322 Delivery “ex-ship.”
§ 25-2-323 Form of bill of lading required in overseas shipment; “overseas.”
§ 25-2-324 “No arrival, no sale” term
§ 25-2-325 “Letter of credit” term; “confirmed credit.”
§ 25-2-326 Sale on approval and sale or return; rights of creditors
§ 25-2-327 Special incidents of sale on approval and sale or return
§ 25-2-328 Sale by auction
§ 25-2-401 Passing of title; reservation for security; limited application of this section
§ 25-2-402 Rights of seller’s creditors against sold goods
§ 25-2-403 Power to transfer; good faith purchase of goods; “entrusting.”
§ 25-2-501 Insurable interest in goods; manner of identification of goods
§ 25-2-502 Buyer’s right to goods on seller’s repudiation, failure to deliver, or insolvency
§ 25-2-503 Manner of seller’s tender of delivery
§ 25-2-504 Shipment by seller
§ 25-2-505 Seller’s shipment under reservation
§ 25-2-506 Rights of financing agency
§ 25-2-507 Effect of seller’s tender; delivery on condition
§ 25-2-508 Cure by seller of improper tender or delivery; replacement
§ 25-2-509 Risk of loss in the absence of breach
§ 25-2-510 Effect of breach on risk of loss
§ 25-2-511 Tender of payment by buyer; payment by check
§ 25-2-512 Payment by buyer before inspection
§ 25-2-513 Buyer’s right to inspection of goods
§ 25-2-514 When documents deliverable on acceptance; when on payment
§ 25-2-515 Preserving evidence of goods in dispute
§ 25-2-601 Buyer’s rights on improper delivery
§ 25-2-602 Manner and effect of rightful rejection
§ 25-2-603 Merchant buyer’s duties as to rightfully rejected goods
§ 25-2-604 Buyer’s options as to salvage of rightfully rejected goods
§ 25-2-605 Waiver of buyer’s objections by failure to particularize
§ 25-2-606 What constitutes acceptance of goods
§ 25-2-607 Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over
§ 25-2-608 Revocation of acceptance in whole or in part
§ 25-2-609 Right to adequate assurance of performance
§ 25-2-610 Anticipatory repudiation
§ 25-2-611 Retraction of anticipatory repudiation
§ 25-2-612 “Installment contract”; breach
§ 25-2-613 Casualty to identified goods
§ 25-2-614 Substituted performance
§ 25-2-615 Excuse by failure of presupposed conditions
§ 25-2-616 Procedure on notice claiming excuse
§ 25-2-701 Remedies for breach of collateral contracts not impaired
§ 25-2-702 Seller’s remedies on discovery of buyer’s insolvency
§ 25-2-703 Seller’s remedies in general
§ 25-2-704 Seller’s right to identify goods to the contract notwithstanding breach or to salvage unfinished goods
§ 25-2-705 Seller’s stoppage of delivery in transit or otherwise
§ 25-2-706 Seller’s resale including contract for resale
§ 25-2-707 “Person in the position of a seller.”
§ 25-2-708 Seller’s damages for nonacceptance or repudiation
§ 25-2-709 Action for the price
§ 25-2-710 Seller’s incidental damages
§ 25-2-711 Buyer’s remedies in general; buyer’s security interest in rejected goods
§ 25-2-712 “Cover”; buyer’s procurement of substitute goods
§ 25-2-713 Buyer’s damages for nondelivery or repudiation
§ 25-2-714 Buyer’s damages for breach in regard to accepted goods
§ 25-2-715 Buyer’s incidental and consequential damages
§ 25-2-716 Buyer’s right to specific performance or replevin
§ 25-2-717 Deduction of damages from the price
§ 25-2-718 Liquidation or limitation of damages; deposits
§ 25-2-719 Contractual modification or limitation of remedy
§ 25-2-720 Effect of “cancellation” or “rescission” on claims for antecedent breach
§ 25-2-721 Remedies for fraud
§ 25-2-722 Who can sue third parties for injury to goods
§ 25-2-723 Proof of market price; time and place
§ 25-2-724 Admissibility of market quotations
§ 25-2-725 Statute of limitations in contracts for sale
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Terms Used In North Carolina General Statutes > Chapter 25 > Article 2 - Sales

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • 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.
  • Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See North Carolina General Statutes 25-2-106
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • 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.
  • Fiduciary: A trustee, executor, or administrator.
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • Fraud: Intentional deception resulting in injury to another.
  • in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • layaway contract: means any contract for the sale of goods in which the seller agrees with the purchaser, in consideration for the purchaser's payment of a deposit, down payment, or similar initial payment, to hold identified goods for future delivery upon the purchaser's payment of a specified additional amount, whether in installments or otherwise. See North Carolina General Statutes 25-2-106
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • 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.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • present sale: means a sale which is accomplished by the making of the contract. See North Carolina General Statutes 25-2-106
  • property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
  • 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.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • seal: shall be construed to include an impression of such official seal, made upon the paper alone, as well as an impression made by means of a wafer or of wax affixed thereto. See North Carolina General Statutes 12-3
  • Seller: means a person who sells or contracts to sell goods. See North Carolina General Statutes 25-2-103
  • 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.
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.