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Friday, 19 July 2013

Acceptance

Acceptance
Buyer can accept goods:
§ By words or conduct.
§ If Buyer had reasonable amount of time and failed to reject.
§ Buyer performs an act which indicates he thinks he is the owner.
Partial Acceptance.
Revocation of Acceptance
Notify Seller of breach.
Revoke only if substantial nonconformity; and
§ Buyer accepted on the reasonable assumption that the Seller would cure the non-conformity OR Buyer did not discover the nonconformity because defect was latent or hard to discover.
Anticipatory Repudiation
Party communicates he will not perform by time of contract performance.
No breaching party may suspend performance and:
§ Treat the A.R. as material breach and pursue a remedy; or
§ Wait a reasonable time.
Case 21.3:  Banco International v. Goody’s Family Clothing (1999).

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