Commercial Law
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Authors
Shields, Regina M.
Issue Date
1981
Volume
14
Issue
Type
Journal Article
Language
Keywords
Alternative Title
Abstract
FIRST PARAGRAPH(S)|During the current survey period the Nebraska Supreme Court examined numerous cases dealing with commercial law. Within these decisions were several noteworthy cases treating the topics of the Uniform Commercial Code (U.C.C.) and appropriation of payments. This section of the survey is a presentation and analysis of the prominent commercial cases. In the area of the U.C.C., the court provided a liberal interpretation of "reasonable notice" of resale of repossessed collateral after default in a secured transaction. On the subject of sale, however, the court assumed a more conservative posture in forbidding disclaimers of express and implied warranties after acceptance. Although U.C.C. section 2-613 represents a narrow exception rarely applied in sales, the court's analysis of the burden of pleading and proof of fault under the section represents probably the first confrontation of the issue in any jurisdiction. Finally, the court examined problems entailing revocation of acceptance and lost profits as consequential damages in a new business. In its treatment of the doctrine of appropriation of payments, the court indicated a reluctance to appropriate payments to given invoices where such would result in the buyer's default. Although the doctrine of appropriation of payments is an established body of law, the court apparently imposed a heavy and somewhat restrictive evidentiary burden on any party invoking its protection...
Description
Citation
14 Creighton L. Rev. 182 (1980-1981)
Publisher
Creighton University School of Law