1. Business Law with UCC Applications,13e Sales Contracts Rights, Duties, Breach, and Warranties Chapter 14 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

2. 14-2 Learning Objectives 1.Describe what is meant by tender of performance. 2.Outline the rights and duties of sellers and buyers in a sales contract. 3.Explain the doctrine of anticipatory breach. 4.Discuss the seller’s and the buyer’s remedies in case of a breach. 5.Define the term statute of limitations.

3. 14-3 Learning Objectives (cont.) 6.Describe the three ways in which an express warranty may be created. 7.State the requirements of the Magnuson-Moss Warranty Act. 8.Differentiate among the implied warranties of fitness for a particular purpose, merchantability, and usage of trade. 9.Explain the meaning of a warranty of title. 10.Recognize the ways in which warranties may be excluded.

4. 14-4 Sales Contracts Rights, Duties, Breach, and Warranties Rights and Duties of the Parties –Tender of Performance –Buyer’s Rights and Duties –Seller’s Rights and Duties

5. 14-5 Sales Contracts Rights, Duties, Breach, and Warranties Tender of Performance –Making proper tender –Tender of payment by buyer

6. 14-6 Sales Contracts Rights, Duties, Breach, and Warranties Buyer’s rights and duties –Rejection of goods by the buyer –Acceptance of goods by the buyer –Revocation of acceptance

7. 14-7 Sales Contracts Rights, Duties, Breach, and Warranties Breach of Contract –Anticipatory Breach –Seller’s Remedies –Buyer’s Remedies –The Commercial Court

8. 14-8 Sales Contracts Rights, Duties, Breach, and Warranties Seller’s remedies –Withhold or stop the delivery of goods –Resell the goods –Damages –Sue for price –Cancel the contract

9. 14-9 Sales Contracts Rights, Duties, Breach, and Warranties Buyer’s remedies –Cover the sale or sue for breach –Keep goods and seek adjustment –Sue for specific performance

10. 14-10 Sales Contracts Rights, Duties, Breach, and Warranties Warranty Protection –Express Warranties –Implied Warranties –Warranty of Title –Warranty Exclusion –Privity Not Required

11. 14-11 Sales Contracts Rights, Duties, Breach, and Warranties Express warranties –Statement of fact or promise –Advertising express warranties –Descriptions, samples, and models –Magnuson-Moss Warranty Act

12. 14-12 Sales Contracts Rights, Duties, Breach, and Warranties Implied warranties –Merchantability –Fitness for a particular purpose –Usage of trade