as seller or buyer, 143, 144. PATENTS OR PATENTED ARTICLES- specific performance of contract for sale of, 1729. sale of, within statute of frauds, see STATUTE OF FRAUDS. failure of consideration, when void, see FAILURE OF CONSIDERATION. PAYMENT- L IN GENERAL. of price, not essential to transfer of title, 493. as implied condition precedent, 538 et seq. as express condition precedent, 558 et seq. See CONDITIONAL SALES. check or draft not, if dishonored, 515. IL WHEN PAYMENT IS DUE. considerations controlling, 1405, 1406. when no term of credit, payment and delivery presumptively contem- same rule applies to executory contracts. 1408. where seller is to do something before payment, 1409. where term of credit is agreed upon, 1410. where credit procured by fraud, 1411. delivery of the goods not necessary, 1412-1414. by contract payment may be due before title passes, 1415. demand for payment not necessary, 1416. IIL PLACE OF PAYMENT. when no place of payment specified, debtor must seek creditor, 1417. amount is price agreed upon, 1418. payment of part does not discharge the whole, 1419. exceptions, 1420. V. THE MEDIUM OF PAYMENT. unless otherwise agreed, payment to be in lawful money, 1421. money must be genuine, 1422. payment by bill or note; buyer's note presumptively not payment, 1423. contrary rule in few States, 1424. note of third person, 1425. presumptions not conclusive, 1426. References are to sections: Vol. I, §§ 1-797; Vol. II, §§ 798-1850. PAYMENT (continued) — action upon note or original consideration, 1427. extension of time, 1428. acceptance of forged or invalid note, 1429. note of insolvent, 1430. acceptance of note induced by fraud, 1431. check or draft as payment, 1433. certification does not affect, 1434. dishonored or forged check, 1436. payment in seller's own note or debt, 1427. set-off, 1438 payment in goods, 1439-1441. if goods not delivered, payment due in cash, 1442. VL TO WHOM PAYMENT TO BE MADE. to the seller or his agent, 1443. 1. Implied Authority to Receive Payment. general considerations, 1444. authority to receive payment not implied from possession of bill, 1445. agent to sell merely or to solicit orders, without possession of goods, when traveling salesmen may receive payment, 1448. when payment to agent part of terms, 1449. notice of want of authority, 1450. how, when agency unknown, 1451, 1452. when authority to receive payment implied from possession of secu- whether authority to receive payment implied from relation of par- 2. Construction of the Authority. can receive nothing but money, 1455. no authority to release or compromise the debt, 1456. may receive part payment, 1457. but may not extend time, 1458. not authorized to receive before due, 1459. no authority to take checks, 1460. if authorized to take check, or note, has no authority to indorse and authority to collect does not authorize sale, 1462. no authority to deal with funds collected, 1463. I. WHEN PERFORMANCE IS DUE how this question determined, 1061. when contract silent, circumstances must determine, 1062, 1063. by whom determined, 1066. rules for determining, 1067, 1068. II. WHAT WILL EXCUSE PERFORMANCE. in general, 1069. 1. Waiver of Performance. party entitled may waive performance, 1070. elements of a waiver, 1071. mere silence not a waiver, 1072. mere leniency no waiver, 1073. friendly attempts at adjustment no waiver, 1074. acceptance of part performance as waiver, 1075, 1076. statement of some objections as a waiver of others, 1077. voluntary and unconditional acceptance of deficient performance a where performance due is in instalments, 1080. 2. That the Other Party is in Default. default of one party as excuse for non-performance by the other, 1081. part performance only of entire contract, 1083. contemporaneous acts; default in payment, 1084-1086. 3. Renunciation of Contract. renunciation of contract by one party will excuse performance by the rights of one party when the other renounces, 1088, 1089. retraction of renunciation, 1090. stopping performance of executory contract, 1091, 1092. 4. That the Buyer has Become Insolvent. when buyer on credit becomes insolvent, seller may decline to per- References are to sections: Vol. I, §§ 1-797; Vol. II, §§ 798-1850. PERFORMANCE-IN GENERAL (continued) – 5. That the Other Party is Unable to Perform. buyer may repudiate where seller unable to convey title, 1096. 6. That the Other Party has Disabled Himself to Perform. effect of disabling one's self to perform, 1097. 7. Impossibility of Performance. in general, 1098. legal impossibility excuses, 1099. physical impossibility excuses, 1100-1102. mere inability of party does not excuse, 1103, 1104. 8. Prevention of Performance. prevention by one party equivalent to performance by the other, 1106. PERFORMANCE BY BUYER- to accept the goods, see ACCEPTANCE PERFORMANCE BY SELLER — to convey title, see TRANSFER OF TITLE to deliver possession, see DELIVERY. to comply with conditions, see CONDITIONS. to perform warranties, see WARRANTY. PLACE (see DELIVERY) — - of delivery, where goods are at time of sale, 1124. at seller's farm, shop, residence, 1124. where time fixed but not place, 1125. where place fixed but not time, 1126. where place at option of either party. 1127. agreement as to place must be complied with, 1128, 1217. of payment, 1417. PLEADING- special damages, to be recovered, must be pleaded, 1780. how distinguished from sale, 37-40. PORTION- of larger mass, sale of, 695 et seq. POSSESSION- not alone sufficient evidence of title, 156. coupled with indicia of ownership, 157 et seq. former owner left in, sale by, 167. right of conditional vendor to resume, 626. References are to sections: Vol. I, §§ 1-797; Vol. II, §§ 798-1850. POTENTIAL EXISTENCE - what constitutes, 200. PREPARATION - - for delivery, condition precedent to transfer of title, 507 et seq. as condition precedent, 538 et seq., 558 et seq. See CASH SALE; CONDI- PREVENTION- of performance, effect of, 1106. PREVIOUS ADVANCES - consignment on account of, 751 et seq. PRICE (see PAYMENT) – necessity for, 204 in money, 1. must be fixed, 205, 206. when not, reasonable value, 207. market price, 208. how fixed, 209 et seq. by subsequent events, 211. by valuers, 212. mistake as to, 278. title may pass before price paid, 493. or before price ascertained, 496. ascertainment of, as condition precedent, 515 et seq., 527, note. as express condition precedent, 558 et seq. on delivery, 1661, 1662. at expiration of term of credit, 1663. where goods have been delivered, 1654-1666. tender of, destroys seller's lien, 1522. damages for loss of, in general, 1704, 1709–1712. when resale not contemplated, 1762. when resale known to vendor, 1763-1765. extent of knowledge required, 1766, 1767. may not be recovered in damages if speculative or conjectural, 1777– |