Commercially Reasonable - Law Dictionary Search Results
commercially reasonable
commercially reasonable : fair, done in good faith, and corresponding to commonly … may sell…the collateral in its then condition or following any commercially reasonable preparation "Uniform Commercial Code"]
reasonable
[a belief that force was necessary for self-defense] d : commercially reasonable 2 : applying reason or logic ;broadly : rational [a
recognized market
in which prices are stated publicly and presumed to be commercially reasonable NOTE: Under the Uniform Commercial Code, a creditor is not
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good faith
defect in the title. In section 1-201 of the Uniform Commercial Code good faith is defined generally as “honesty in fact … a merchant means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.” Similarly, Article
Public service
distinct profit motive. By reason of the fact that a commercial undertaking is owned and run by the State it does … however beneficial to the people and however useful cannot, be reasonably regarded as public service if is of a type which
accept
merchandise] compare reject NOTE: Under section 2-606(1) of the Uniform Commercial Code, a buyer accepts goods if: 1) he or she … 1) he or she indicates to the seller after a reasonable opportunity to inspect them that he or she will keep
seasonable
occurring within the time agreed to by parties to a commercial transaction or within a reasonable time [ notice of the
Consumables
that it has got consumed therein, Coastal Chemical Ltd. v. Commercial Tax Officer, (1999) 8 SCC 465 … process but is not identifiable in the final product by reason of the fact that it has got consumed therein, Coastal
Manifesto, or Manifest
which he founds his rights and pretensions, Encyc. Londin. In commercial navigation, a document signed by the master, containing a general … with the motives that induce him to it, and the reasons on which he founds his rights and pretensions, Encyc. Londin.
Property
'property', Chunni Lal v. State, AIR 1968 Raj 70. In commercial law this may carry its ordinary meaning of the subject-matter … a thing (which we are already said to possess) by reason of the relation in which we stand towards it, See
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