Idaho State Statutes - Idaho Attorney Directory

28-2-106 - DEFINITIONS -- "CONTRACT" -- "AGREEMENT" -- "CONTRACT FOR SALE" -- "SALE" -- "PRESENT SALE" -- "CONFORMING" TO CONTRACT -- "TERMINATION" -- "CANCELATION

DEFINITIONS -- "CONTRACT" -- "AGREEMENT" -- "CONTRACT FOR SALE"
-- "SALE" -- "PRESENT SALE" -- "CONFORMING" TO CONTRACT -- "TERMINATION" --
"CANCELATION." (1) In this chapter unless the context otherwise requires
"contract" and "agreement" are limited to those relating to the present or
future sale of goods. "Contract for sale" includes both a present sale of
goods and a contract to sell goods at a future time. A "sale" consists in the
passing of title from the seller to the buyer for a price (section 28-2-401).
A "present sale" means a sale which is accomplished by the making of the
contract.
(2) Goods or conduct including any part of a performance are "conforming"
or conform to the contract when they are in accordance with the obligations
under the contract.
(3) "Termination" occurs when either party pursuant to a power created by
agreement or law puts an end to the contract otherwise than for its breach. On
"termination" all obligations which are still executory on both sides are
discharged but any right based on prior breach or performance survives.
(4) "Cancelation" occurs when either party puts an end to the contract
for breach by the other and its effect is the same as that of "termination"
except that the canceling party also retains any remedy for breach of the
whole contract or any unperformed balance.

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