This is a brief excerpt from the document you requested from IFAR’s Art Law & Cultural Property Database.
Statute
New York Statute - Uniform Commercial Code § 2-508, Cure by Seller of Improper Tender or Delivery; Replacement
Citation
N.Y. U.C.C. § 2-508 (Consol. 2007)
Summary
The statute is based on:
U.C.C. § 2-508, Cure by Seller of Improper Tender or Delivery; Replacement, provides in pertinent part that if a buyer rejects tender or delivery by the seller because it is non-conforming and the time for performance has not yet expired, the seller may notify the buyer of his intention to cure and then make a conforming delivery within the contract time. If a buyer rejects a non-conforming tender which the seller reasonably believed would be acceptable, the seller may seasonably notify the buyer and substitute a conforming tender with a reasonable time.
See full text of the New York Statute below.
Click here to subscribe to IFAR's Art Law & Cultural Property Database to access this and other documents about U.S. and international legislation and case law concerning the acquisition, authenticity, export, ownership, and copyright of art objects.
