Commercially Reasonable - Law Dictionary Search Results
commercially reasonable
Matched in: Term commercially reasonable
reasonable
Matched in: Term reasonable
good faith
U.C.C. says “good faith in the case of a merchant means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.” Similarly, Article 3 on negotiable instruments defines good faith as … no knowledge or reason to know of any defect in the title. In section 1-201 of the Uniform Commercial Code good faith is defined generally as “honesty in fact in the conduct or transaction concerned.” Article 2
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recognized market
not rely on competitive bidding or haggling, and in which prices are stated publicly and presumed to be commercially reasonable NOTE: Under the Uniform Commercial Code, a creditor is not required to notify a debtor of the sale
Public service
and is carried on by government with a distinct profit motive. By reason of the fact that a commercial undertaking is owned and run by the State it does not ipso facto become a 'public service', Satya … Public service, an activity however beneficial to the people and however useful cannot, be reasonably regarded as public service if is of a type which may be carried on by private individuals and
accept
[ed the shipment despite discovering defects in the merchandise] compare reject NOTE: Under section 2-606(1) of the Uniform Commercial Code, a buyer accepts goods if: 1) he or she indicates to the seller after a reasonable opportunity
seasonable
seasonable : occurring within the time agreed to by parties to a commercial transaction or within a reasonable time [ notice of the rejection of goods] sea·son·ably [-blē] adv
Consumables
the final product by reason of the fact that it has got consumed therein, Coastal Chemical Ltd. v. Commercial Tax Officer, (1999) 8 SCC 465 … is utilised as an input in the manufacturing process but is not identifiable in the final product by reason of the fact that it has got consumed therein, Coastal Chemical Ltd. v. Commercial Tax Officer, (1999) 8
Manifesto, or Manifest
induce him to it, and the reasons on which he founds his rights and pretensions, Encyc. Londin. In commercial navigation, a document signed by the master, containing a general statement of the ship and cargo, i.e., the … intention to begin a war or other enterprise, with the motives that induce him to it, and the reasons on which he founds his rights and pretensions, Encyc. Londin. In commercial navigation, a document signed by the
rejection
may be rejected if they do not conform to the contract. The rejection must be made within a reasonable period after delivery, before the goods have been accepted, and notice of the rejection must be given to … performance of a contract NOTE: Rejection and revocation are two remedies available to the buyer under the Uniform Commercial Code after the delivery of defective goods. Goods may be rejected if they do not conform to the
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