§ 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

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

  • 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
  • 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.
  • 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.
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • 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.
  • 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