Article 2 — Sales · Section 2-301
An overview of UCC § 2-301 detailing the duties of parties in a sales transaction.
Source: U.C.C. § 2-301
Each party to a contract for sale shall be a buyer or seller. The buyer shall pay at the contract rate for the goods and the seller shall transfer to the buyer the goods, all as stated in the agreement.
UCC § 2-301 outlines the fundamental obligations of buyers and sellers in a sales contract. Essentially, it establishes that the seller must provide the goods as agreed, and the buyer is obligated to pay for those goods.
A person who buys or contracts to buy goods.
A person who sells or contracts to sell goods.
Example 1
A retailer agrees to buy 100 sweaters from a manufacturer at $20 each. The retailer is the buyer, and the manufacturer is the seller.
Example 2
A restaurant orders fresh produce from a local farm and agrees to pay the farm upon delivery. The farm is the seller, and the restaurant is the buyer.