400.2-321. C.I.F. or C.&F.--"net landed weights"--payment on arrival--warranty of condition on arrival. - Missouri Statutes

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Statutes > Missouri > T26 > C400 > 400_2-321

C.I.F. or C.&F.--"net landed weights"--payment on arrival--warranty ofcondition on arrival.

400.2-321. Under a contract containing a term C.I.F. orC.&F.

(1) Where the price is based on or is to be adjustedaccording to "net landed weights", "delivered weights", "outturn" quantity or quality or the like, unless otherwise agreedthe seller must reasonably estimate the price. The payment dueon tender of the documents called for by the contract is theamount so estimated, but after final adjustment of the price asettlement must be made with commercial promptness.

(2) An agreement described in subsection (1) or any warrantyof quality or condition of the goods on arrival places upon theseller the risk of ordinary deterioration, shrinkage and the likein transportation but has no effect on the place or time ofidentification to the contract for sale or delivery or on thepassing of the risk of loss.

(3) Unless otherwise agreed where the contract provides forpayment on or after arrival of the goods the seller must beforepayment allow such preliminary inspection as is feasible; but ifthe goods are lost delivery of the documents and payment are duewhen the goods should have arrived.

(L. 1963 p. 503 § 2-321, A.L. 1965 p. 595)

State Codes and Statutes

Statutes > Missouri > T26 > C400 > 400_2-321

C.I.F. or C.&F.--"net landed weights"--payment on arrival--warranty ofcondition on arrival.

400.2-321. Under a contract containing a term C.I.F. orC.&F.

(1) Where the price is based on or is to be adjustedaccording to "net landed weights", "delivered weights", "outturn" quantity or quality or the like, unless otherwise agreedthe seller must reasonably estimate the price. The payment dueon tender of the documents called for by the contract is theamount so estimated, but after final adjustment of the price asettlement must be made with commercial promptness.

(2) An agreement described in subsection (1) or any warrantyof quality or condition of the goods on arrival places upon theseller the risk of ordinary deterioration, shrinkage and the likein transportation but has no effect on the place or time ofidentification to the contract for sale or delivery or on thepassing of the risk of loss.

(3) Unless otherwise agreed where the contract provides forpayment on or after arrival of the goods the seller must beforepayment allow such preliminary inspection as is feasible; but ifthe goods are lost delivery of the documents and payment are duewhen the goods should have arrived.

(L. 1963 p. 503 § 2-321, A.L. 1965 p. 595)

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State Codes and Statutes

Statutes > Missouri > T26 > C400 > 400_2-321

C.I.F. or C.&F.--"net landed weights"--payment on arrival--warranty ofcondition on arrival.

400.2-321. Under a contract containing a term C.I.F. orC.&F.

(1) Where the price is based on or is to be adjustedaccording to "net landed weights", "delivered weights", "outturn" quantity or quality or the like, unless otherwise agreedthe seller must reasonably estimate the price. The payment dueon tender of the documents called for by the contract is theamount so estimated, but after final adjustment of the price asettlement must be made with commercial promptness.

(2) An agreement described in subsection (1) or any warrantyof quality or condition of the goods on arrival places upon theseller the risk of ordinary deterioration, shrinkage and the likein transportation but has no effect on the place or time ofidentification to the contract for sale or delivery or on thepassing of the risk of loss.

(3) Unless otherwise agreed where the contract provides forpayment on or after arrival of the goods the seller must beforepayment allow such preliminary inspection as is feasible; but ifthe goods are lost delivery of the documents and payment are duewhen the goods should have arrived.

(L. 1963 p. 503 § 2-321, A.L. 1965 p. 595)