Section 55-2-701 - Remedies for breach of collateral contracts not impaired.

NM Stat § 55-2-701 (2019) (N/A)
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Remedies for breach of any obligation or promise collateral or ancillary to a contract for sale are not impaired by the provisions of this article.

History: 1953 Comp., § 50A-2-701, enacted by Laws 1961, ch. 96, § 2-701.

OFFICIAL COMMENTS

UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.

Prior uniform statutory provision. — None.

Purposes. — Whether a claim for breach of an obligation collateral to the contract for sale requires separate trial to avoid confusion of issues is beyond the scope of this article; but contractual arrangements which as a business matter enter vitally into the contract should be considered a part thereof insofar as cross-claims or defenses are concerned.

"Contract for sale". Section 2-106.

"Remedy". Section 1-201.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 67A Am. Jur. 2d Sales §§ 853 et seq., 986 et seq.

77A C.J.S. Sales § 325 et seq.