Maine Revised Statutes Title 11 Sec. 2-301 – General obligations of parties
Current as of: 2023 | Check for updates
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Terms Used In Maine Revised Statutes Title 11 Sec. 2-301
- Buyer: means a person who buys or contracts to buy goods. See Maine Revised Statutes Title 11 Sec. 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 Maine Revised Statutes Title 11 Sec. 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.