reglab/housing_qa huggingface dataset:
NM Stat § 55-1-206 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 1 - General Provisions|Part 2 - GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION|Section 55-1-206 - Presumptions.

Whenever the Uniform Commercial Code creates a "presumption" with respect to a fact, or provides that a fact is "presumed", the trier of fact must find the existence of the fact unless and until evidence is introduced that supports a finding of its nonexistence. History: Laws 2005, ch. 144, § 14. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Source. — Former Section 1-201(31) [55-1-201(31) NMSA 1978]. Changes from former law. — None, other than stylistic changes. Several sections of the Uniform Commercial Code state that there is a "presumption" as to a certain fact, or that the fact is "presumed." This section, derived from the definition appearing in former Section 1-201(31) [55-1-201(31) NMSA 1978], indicates the effect of those provisions on the proof process. Purposes. — To fill the gap left by the statute of frauds provisions for goods (Section 2-201 [55-2-201 NMSA 1978]), securities (Section 2-319 [55-2-319 NMSA 1978]) and security interests (Section 9-203 [55-9-203 NMSA 1978]). The Uniform Sales Act covered the sale of "choses in action"; the principal gap relates to sale of the "general intangibles" defined in Article 9 (Section 9-106 [55-9-106 NMSA 1978]) and to transactions excluded from Article 9 by Section 9-104 [55-9-104 NMSA 1978]. Typical are the sale of bilateral contracts, royalty rights or the like. The informality normal to such transactions is recognized by lifting the limit for oral transactions to $5,000. In such transactions there is often no standard of practice by which to judge, and values can rise or drop without warning; troubling abuses are avoided when the dollar limit is exceeded by requiring that the subject-matter be reasonably identified in a signed writing which indicates that a contract for sale has been made at a defined or stated price. "Action". Section 1-201. "Agreement". Section 1-201. "Contract". Section 1-201. "Contract for sale". Section 2-106. "Goods". Section 2-105. "Party". Section 1-201. "Sale". Section 2-106. "Signed". Section 1-201. "Writing". Section 1-201. Repeals and reenactments. — Laws 2005, ch. 144, § 14, effective January 1, 2006, repealed former 55-1-206 NMSA 1978, relating to the statute of frauds, as enacted by Laws 1961, ch. 96, § 1-206, as amended, and enact a new 55-1-206 NMSA 1978, relating to presumptions. Cross references. — For presumptions in civil cases, see 11-301 NMRA of the Rules of Evidence. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Commercial Code §§ 37, 114; 72 Am. Jur. 2d Statute of Frauds § 130. 37 C.J.S. Frauds, Statute of § 138.
NM Stat § 55-1-207 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 1 - General Provisions|Part 2 - GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION|Section 55-1-207 - Repealed.

History: 1953 Comp., § 50A-1-207, enacted by Laws 1961, ch. 96, § 1-207; 1992, ch. 114, § 4; repealed by Laws 2005, ch. 144, § 113.ANNOTATIONSRepeals. — Laws 2005, ch. 144, § 113, repealed 55-1-207 NMSA 1978, as enacted by Laws 1961, ch. 96, § 1-207, relating to performance or acceptance under reservation of rights, effective January 1, 2006. For current law, see 55-1-308 NMSA 1978.
NM Stat § 55-1-208 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 1 - General Provisions|Part 2 - GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION|Section 55-1-208 - Repealed.

History: 1953 Comp., § 50A-1-208, enacted by Laws 1961, ch. 96, § 1-208; repealed by Laws 2005, ch. 144, § 113.ANNOTATIONSRepeals. — Laws 2005, ch. 144, § 113 repealed 55-1-208 NMSA 1978, as enacted by Laws 1961, ch. 96, § 1-208, relating to option to accelerate at will, effective January 1, 2006. For provisions of current law, see 55-1-309 NMSA 1978.
NM Stat § 55-1-209 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 1 - General Provisions|Part 2 - GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION|Section 55-1-209 - Repealed.

History: 1978 Comp., § 55-1-209, enacted by Laws 1992, ch. 114, § 5; repealed by Laws 2005, ch. 144, § 113.ANNOTATIONSRepeals. — Laws 2005, ch. 144, § 113 repealed 55-1-209 NMSA 1978, as enacted by Laws 1992, ch. 114, § 5, relating to subordinated obligations, effective January 1, 2006. For provisions of current law, see 55-1-310 NMSA 1978.
NM Stat § 55-1-306 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 1 - General Provisions|Part 3 - TERRITORIAL APPLICABILITY AND GENERAL RULES|Section 55-1-306 - Waiver or renunciation of claim or right after breach.

A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in an authenticated record. History: 1953 Comp., § 50A-1-107, enacted by Laws 1961, ch. 96, § 1-107, § 50A-1-107, enacted by Laws 1961, ch. 96, § 1-107; 1978 Comp. §55-1-208; recompiled by compiler as 1978 Comp. § 55-1-306; Laws 2005, ch. 144, § 20. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Source. — Former Section 1-107 [55-1-107 NMSA 1978]. Changes from former law. — This section changes former law in two respects. First, former Section 1-107, requiring the "delivery" of a "written waiver or renunciation" merges the separate concepts of the aggrieved party's agreement to forego rights and the manifestation of that agreement. This section separates those concepts, and explicitly requires agreement of the aggrieved party. Second, the revised section reflects developments in electronic commerce by providing for memorialization in an authenticated record. In this context, a party may "authenticate" a record by (i) signing a record that is a writing or (ii) attaching to or logically associating with a record that is not a writing an electronic sound, symbol or process with the present intent to adopt or accept the record. See Sections 1-201(b)(37) and 9-102(a)(7) [55-1-201(b)55-9-102(a) NMSA 1978]. This section makes consideration unnecessary to the effective renunciation or waiver of rights or claims arising out of an alleged breach of a commercial contract where the agreement effecting such renunciation is memorialized in a record authenticated by the aggrieved party. Its provisions, however, must be read in conjunction with the section imposing an obligation of good faith. (Section 1-304 [55-1-304 NMSA 1978]). Compiler's notes. — Laws 2005, ch. 144, § 20, effective January 1, 2006, enacted a new 55-1-306 NMSA 1978 relating to waiver or renunciation of claim or right after breach. The substance of former 55-1-107 NMSA 1978 relating to waiver or renunciation of claim or right after breach, has been enacted as a new 55-1-306 NMSA 1978 by Laws 2005, ch. 144, § 20. For repeal and reenactment of a law that is not a new enactment, see 12-2A-14 NMSA 1978. For provisions of former 55-1-107 NMSA 1978, see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 55-1-307 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 1 - General Provisions|Part 3 - TERRITORIAL APPLICABILITY AND GENERAL RULES|Section 55-1-307 - Prima facie evidence by third-party documents.

A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice or any other document authorized or required by the contract to be issued by a third party is prima facie evidence of its own authenticity and genuineness and of the facts stated in the document by the third party. History: 1953 Comp., § 50A-1-202, enacted by Laws 1961, ch. 96, § 1-202; 1978 Comp §55-1-202; recompiled by compiler as 1978 Comp. § 55-1-307; Laws 2005, ch. 144, § 21. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Source. — Former Section 1-202 [55-1-202 NMSA 1978]. Changes from former law. — Except for minor stylistic changes, this Section is identical to former Section 1-202. 1. This section supplies judicial recognition for documents that are relied upon as trustworthy by commercial parties. 2. This section is concerned only with documents that have been given a preferred status by the parties themselves who have required their procurement in the agreement, and for this reason the applicability of the section is limited to actions arising out of the contract that authorized or required the document. The list of documents is intended to be illustrative and not exclusive. 3. The provisions of this section go no further than establishing the documents in question as prima facie evidence and leave to the court the ultimate determination of the facts where the accuracy or authenticity of the documents is questioned. In this connection the section calls for a commercially reasonable interpretation. 4. Documents governed by this section need not be writings if records in another medium are generally relied upon in the context. Compiler's notes. — Laws 2005, ch. 144, § 21, effective January 1, 2006, enacted a new 55-1-307 NMSA 1978 relating to prima facie evidence. Section 55-1-307 NMSA 1978 is almost identical to former 55-1-202 NMSA 1978 relating to prima facie evidence. For repeal and reenactment of a law that is not a new enactment, see 12-2A-14 NMSA 1978. For provisions of former 55-1-202 NMSA 1978, see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 55-1-309 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 1 - General Provisions|Part 3 - TERRITORIAL APPLICABILITY AND GENERAL RULES|Section 55-1-309 - Option to accelerate at will.

A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or when the party "deems itself insecure" or words of similar import means that the party has power to do so only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the party against which the power has been exercised. History: 1953 Comp., § 50A-1-208, enacted by Laws 1961, ch. 96, § 1-208; 1978 Comp. §55-1-208; recompiled by compiler as 1978 Comp. § 55-1-309; Laws 2005, ch. 144, § 23. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Source. — Former Section 1-208 [55-1-208 NMSA 1978]. Changes from former law. — Except for minor stylistic changes, this section is identical to former Section 1-208. The common use of acceleration clauses in many transactions governed by the Uniform Commercial Code, including sales of goods on credit, notes payable at a definite time, and secured transactions, raises an issue as to the effect to be given to a clause that seemingly grants the power to accelerate at the whim and caprice of one party. This section is intended to make clear that despite language that might be so construed and which further might be held to make the agreement void as against public policy or to make the contract illusory or too indefinite for enforcement, the option is to be exercised only in the good faith belief that the prospect of payment or performance is impaired. Obviously this section has no application to demand instruments or obligations whose very nature permits call at any time with or without reason. This section applies only to an obligation of payment or performance which in the first instance is due at a future date. Compiler's notes. — Laws 2005, ch. 144, § 23, effective January 1, 2006, enacted a new 55-1-309 NMSA 1978 relating to option to accelerate at will. With minor revisions, this new section is the same as former 55-1-208 NMSA 1978, relating to option to accelerate at will. See 12-2A-14 NMSA 1978 for repeal and reenactment of a law that is not a new enactment. For provisions of former 55-1-208 NMSA 1978, see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 55-2-101 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 2 - Sales|Part 1 - SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER|Section 55-2-101 - Short title.

This article shall be known and may be cited as Uniform Commercial Code - Sales. History: 1953 Comp., § 50A-2-101, enacted by Laws 1961, ch. 96, § 2-101. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. This article is a complete revision and modernization of the Uniform Sales Act which was promulgated by the National Conference of Commissioners on Uniform State Laws in 1906 and has been adopted in 34 states and Alaska, the District of Columbia and Hawaii. The coverage of the present article is much more extensive than that of the old Sales Act and extends to the various bodies of case law which have been developed both outside of and under the latter. The arrangement of the present article is in terms of contract for sale and the various steps of its performance. The legal consequences are stated as following directly from the contract and action taken under it without resorting to the idea of when property or title passed or was to pass as being the determining factor. The purpose is to avoid making practical issues between practical men turn upon the location of an intangible something, the passing of which no man can prove by evidence and to substitute for such abstractions proof of words and actions of a tangible character. Law reviews. — For article, "Lender Recourse in Indian Country: A Navajo Case Study," see 21 N.M.L. Rev. 275 (1991). Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Works and Contracts § 18; 67 Am. Jur. 2d Sales § 1 et seq. Applicability of U.C.C. Article 2 to mixed contracts for sale of goods and services, 5 A.L.R.4th 501. 82 C.J.S. Statutes § 221.
NM Stat § 55-2-203 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 2 - Sales|Part 2 - FORM, FORMATION AND READJUSTMENT OF CONTRACT|Section 55-2-203 - Seals inoperative.

The affixing of a seal to a writing evidencing a contract for sale or an offer to buy or sell goods does not constitute the writing [of] a sealed instrument and the law with respect to sealed instruments does not apply to such a contract or offer. History: 1953 Comp., § 50A-2-203, enacted by Laws 1961, ch. 96, § 2-203. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Prior uniform statutory provision. — Section 3, Uniform Sales Act. Changes. — Portion pertaining to "seals" rewritten. 1. This section makes it clear that every effect of the seal which relates to "sealed instruments" as such is wiped out insofar as contracts for sale are concerned. However, the substantial effects of a seal, except extension of the period of limitations, may be had by appropriate drafting as in the case of firm offers (see Section 2-205). 2. This section leaves untouched any aspects of a seal which relate merely to signatures or to authentication of execution and the like. Thus, a statute providing that a purported signature gives prima facie evidence of its own authenticity or that a signature gives prima facie evidence of consideration is still applicable to sales transactions even though a seal may be held to be a signature within the meaning of such a statute. Similarly, the authorized affixing of a corporate seal bearing the corporate name to a contractual writing purporting to be made by the corporation may have effect as a signature without any reference to the law of sealed instruments. Cross reference. — Point 1: Section 2-205. "Contract for sale". Section 2-106. "Goods". Section 2-105. "Writing". Section 1-201. Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Am. Jur. 2d, A.L.R. and C.J.S. references. — 17A Am. Jur. 2d Contracts §§ 58, 116, 182; 67 Am. Jur. 2d Seals § 1 et seq; 68A Am. Jur. 2d Secured Transactions § 169. 77A C.J.S. Sales § 1 et seq.; 79 C.J.S. Seals §§ 2, 3.
NM Stat § 55-2-208 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 2 - Sales|Part 2 - FORM, FORMATION AND READJUSTMENT OF CONTRACT|Section 55-2-208 - Repealed.

History: 1953 Comp., § 50A-2-208, enacted by Laws 1961, ch. 96, § 2-208; repealed by Laws 2005, ch. 144, § 113.ANNOTATIONSRepeals. — Laws 2005, ch. 144, § 113 repealed 55-2-208 NMSA 1978, as enacted by Laws 1961, ch. 96, § 2-208, relating to course of performance or practical construction, effective January 1, 2006. For provisions of former section, see the 2004 NMSA 1978 on NMOneSource.com.
NM Stat § 55-2-301 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 2 - Sales|Part 3 - GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT|Section 55-2-301 - General obligations of parties.

The obligation of the seller is to transfer and deliver and that of the buyer is to accept and pay in accordance with the contract. History: 1953 Comp., § 50A-2-301, enacted by Laws 1961, ch. 96, § 2-301. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Prior uniform statutory provision. — Sections 11 and 41, Uniform Sales Act. Changes. — Rewritten. Purposes of changes. — This section uses the term "obligation" in contrast to the term "duty" in order to provide for the "condition" aspects of delivery and payment insofar as they are not modified by other sections of this article such as those on cure of tender. It thus replaces not only the general provisions of the Uniform Sales Act on the parties' duties, but also the general provisions of that act on the effect of conditions. In order to determine what is "in accordance with the contract" under this article usage of trade, course of dealing and performance and the general background of circumstances must be given due consideration in conjunction with the lay meaning of the words used to define the scope of the conditions and duties. Cross references. — Section 1-106. See also Sections 1-205, 2-208, 2-209, 2-508 and 2-612. "Buyer". Section 2-103. "Contract". Section 1-201. "Party". Section 1-201. "Seller". Section 2-103. Law reviews. — For article, "Special Property Under the Uniform Commercial Code: A New Concept in Sales," see 4 Nat. Resources J. 98 (1964). For article, "Buyers and Sellers of Goods in Bankruptcy," see 1 N.M. L. Rev. 435 (1971). Am. Jur. 2d, A.L.R. and C.J.S. references. — 11 Am. Jur. 2d Bills and Notes § 405; 67 Am. Jur. 2d Sales §§ 102 to 239. What amounts to delivery f.o.b., 16 A.L.R. 597. Substantial performance of contract for manufacture or sale of article, 19 A.L.R. 815. What constitutes delivery of goods sold under "c.i.f." contract, 20 A.L.R. 1236. Seller's right to retain down payment on buyer's unjustified refusal to accept goods, 11 A.L.R.2d 701. Implied or apparent authority of agent to purchase or order goods or merchandise, 55 A.L.R.2d 6. 77A C.J.S. Sales § 157 et seq.
NM Stat § 55-2-303 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 2 - Sales|Part 3 - GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT|Section 55-2-303 - Allocation or division of risks.

Where this article allocates a risk or a burden as between the parties "unless otherwise agreed," the agreement may not only shift the allocation but may also divide the risk or burden. History: 1953 Comp., § 50A-2-303, enacted by Laws 1961, ch. 96, § 2-303. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Prior uniform statutory provision. — None. 1. This section is intended to make it clear that the parties may modify or allocate "unless otherwise agreed" risks or burdens imposed by this article as they desire, always subject, of course, to the provisions on unconscionability. Compare Section 1-102(4). 2. The risk or burden may be divided by the express terms of the agreement or by the attending circumstances, since under the definition of "agreement" in this act the circumstances surrounding the transaction as well as the express language used by the parties enter into the meaning and substance of the agreement. Point 1: Sections 1-102 and 2-302. Point 2: Section 1-201. "Party". Section 1-201. "Agreement". Section 1-201. Reasonable to require loss claims to be made within two days. — In general, a contract provision requiring claims of loss to be made within two days of delivery is reasonable, lawful and not unconscionable. Bowlin's, Inc. v. Ramsey Oil Co., 1983-NMCA-038, 99 N.M. 660, 662 P.2d 661, cert. denied, 99 N.M. 644, 662 P.2d 645. Am. Jur. 2d, A.L.R. and C.J.S. references. — 77A C.J.S. Sales § 151 et seq.
NM Stat § 55-2-322 (2021)
2021 New Mexico Statutes|Chapter 55 - Uniform Commercial Code|Article 2 - Sales|Part 3 - GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT|Section 55-2-322 - Delivery "ex-ship".

(1) Unless otherwise agreed a term for delivery of goods "ex-ship" (which means from the carrying vessel) or in equivalent language is not restricted to a particular ship and requires delivery from a ship which has reached a place at the named port of destination where goods of the kind are usually discharged. (2) Under such a term unless otherwise agreed: (a) the seller must discharge all liens arising out of the carriage and furnish the buyer with a direction which puts the carrier under a duty to deliver the goods; and (b) the risk of loss does not pass to the buyer until the goods leave the ship's tackle or are otherwise properly unloaded. History: 1953 Comp., § 50A-2-322, enacted by Laws 1961, ch. 96, § 2-322. ANNOTATIONSOFFICIAL COMMENTS UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved. Prior uniform statutory provision. — None. 1. The delivery term, "ex-ship", as between seller and buyer, is the reverse of the F.A.S. term covered. 2. Delivery need not be made from any particular vessel under a clause calling for delivery "ex-ship", even though a vessel on which shipment is to be made originally is named in the contract, unless the agreement by appropriate language, restricts the clause to delivery from a named vessel. 3. The appropriate place and manner of unloading at the port of destination depend upon the nature of the goods and the facilities and usages of the port. 4. A contract fixing a price "ex-ship" with payment "cash against documents" calls only for such documents as are appropriate to the contract. Tender of a delivery order and of a receipt for the freight after the arrival of the carrying vessel is adequate. The seller is not required to tender a bill of lading as a document of title nor is he required to insure the goods for the buyer's benefit, as the goods are not at the buyer's risk during the voyage. Cross reference. — Point 1: Section 2-319(2). "Buyer". Section 2-103. "Goods". Section 2-105. "Seller". Section 2-103. "Term". Section 1-201. Am. Jur. 2d, A.L.R. and C.J.S. references. — 67 Am. Jur. 2d Sales §§ 559 to 562. Delay in delivery placing goods at risk of party at fault under § 22(b) of Uniform Sales Act, 38 A.L.R.2d 658. 77A C.J.S. Sales § 168 et seq.