Ucc & Soga
Business Law II Title: Comparison of Uniform Commercial Code and Malaysia Sales of Goods Act 1957
Spring Semester, 2013 Submission date: 28th March, 2013 Michele Ch’ng Chiau Woon SCSJ-0007016
Table of Contents Abstract 3 Introduction 4 Uniform Commercial Code (UCC) 4 Sale of Goods Act (1957) 5 Comparison of Uniform Commercial Code and Sales of Goods Act 1957 6 Open Price Terms 6 Implied Warranty: Fitness, Quality or Purpose 7 Acceptance of Goods 10 Consumer’s right on the examination/inspection of goods 11 Conclusion 13 References 14 Appendix
Abstract
To provide a critique of the sections contained in Article 2 of the Uniform Commercial Code of United States and equivalent provisions contained in Sales of Goods Act 1957 of Malaysia. Examine, specifically on the contract/market differential provisions in both pieces of legislation. Sections used for comparison are (a) Open Price Terms; (b) Fitness and Purpose of Implied Warranty; (c) Acceptance of Goods and; (d) Consumer’s Rights on Examination or Inspection of Goods. Methods used are by searching through online journals, in class notes and also referring to law books.
Introduction
As opposed to traditional commercial practice involving a simple sale between a buyer and a seller, today trades are rather complex as they cross legal, ideological and economic boundaries such as a capitalist and planned societies, developed and less developed countries, as well as civil and common law countries. English law plays an important role as the governing law of international commodities sales due to various reasons including certain historical factors. Especially Malaysia has once been colonized by the English. The comparative study between Uniform Commercial Code and the Sale of Goods Act 1957 is worth to be made.
Uniform Commercial Code (UCC):
Uniform Commercial Code or UCC, is the statutory law in every state. The Uniform Commercial Code was created by the
Spring Semester, 2013 Submission date: 28th March, 2013 Michele Ch’ng Chiau Woon SCSJ-0007016
Table of Contents Abstract 3 Introduction 4 Uniform Commercial Code (UCC) 4 Sale of Goods Act (1957) 5 Comparison of Uniform Commercial Code and Sales of Goods Act 1957 6 Open Price Terms 6 Implied Warranty: Fitness, Quality or Purpose 7 Acceptance of Goods 10 Consumer’s right on the examination/inspection of goods 11 Conclusion 13 References 14 Appendix
Abstract
To provide a critique of the sections contained in Article 2 of the Uniform Commercial Code of United States and equivalent provisions contained in Sales of Goods Act 1957 of Malaysia. Examine, specifically on the contract/market differential provisions in both pieces of legislation. Sections used for comparison are (a) Open Price Terms; (b) Fitness and Purpose of Implied Warranty; (c) Acceptance of Goods and; (d) Consumer’s Rights on Examination or Inspection of Goods. Methods used are by searching through online journals, in class notes and also referring to law books.
Introduction
As opposed to traditional commercial practice involving a simple sale between a buyer and a seller, today trades are rather complex as they cross legal, ideological and economic boundaries such as a capitalist and planned societies, developed and less developed countries, as well as civil and common law countries. English law plays an important role as the governing law of international commodities sales due to various reasons including certain historical factors. Especially Malaysia has once been colonized by the English. The comparative study between Uniform Commercial Code and the Sale of Goods Act 1957 is worth to be made.
Uniform Commercial Code (UCC):
Uniform Commercial Code or UCC, is the statutory law in every state. The Uniform Commercial Code was created by the
References: Dobsom, A. (1989). Sales of Goods and Consumer Credit. Sweet & MaxWell. Flatworld Knowledge. (2013, March 24). Performance by Buyer. Retrieved from Flatworld Knowledge: http://flatworldknowledge.lardbucket.org/books/law-of-commercial-transactions/section_22_02.html Gabuardi, C. A. (n.d.). Open Price Terms in CISG and Mexican Commercial Law. Retrieved March 23, 2013, from CISGw3 Database: http://www.jus.uio.no/pace/open_price_terms_in_cisg_and_mexican_commercial_law.carlos_gabuardi/_2.html Indiana Law Journal. (1963). Implied and Express Warranties and Disclaimers Under the Uniform Commercial Code, 38(4). Retrieved March 24, 2013, from http://www.repository.law.indiana.edu/ilj/vol38/iss4/5 Investopedia. (n.d.). Opening Price. Retrieved March 23, 2013, from Investopedia: http://www.investopedia.com/terms/o/openingprice.asp Law Essays UK. (n.d.). Sale of Goods Act 1957. Retrieved March 24, 2013, from Law Essays UK: http://www.law-essays-uk.com/resources/sample-essays/UK-Law/sale-of-goods-act-.php Mallor, J. P., Barnes, A. J., Bowers, T., & Langvardt, A. W. (2004). Business Law, The Ethical, Global, and E-commerce Environment (Twelth Edition ed.). McGraw Hill, Irwin. Retrieved March 27th, 2013 Simon Salzedo, Peter Brunner, & Michael Ottley. (n.d.). Brief Case on Contract Law. -------------------------------------------- [ 1 ]. Section 2-316 subsection 3(a) unless the circumstances indicate otherwise, all implied warranties are excluded by expressions like “as is”, “with all faults” or other language that in common understanding calls the buyer’s attention to the exclusion of warranties, makes plain that there is no implied warranty, and, in a consumer contract evidenced by a record, is set forth conspicuously in the record. 3(b) if the buyer before entering into the contract has examined the goods or the sample model as fully as desired or has refused to examine the goods after a demand by the seller there is no implied warranty with regard to defects that an examination in the circumstances should have revealed to the buyer; and 3(c) an implied warranty may also be excluded or modified by course of dealing or course of performance or usage of trade.