Just Wondering wrote:
On 7/29/2011 6:56 AM, HeyBub wrote:
Scott Lurndal wrote:
The Uniform Commercial Code recognizes that the
"usual and accepted practices" of an industry have the force of law.

No, it doesn't. What id does say is that the course of dealing,
course of performance, and usage of the trade of the parties to a
contract governed by the UCC can be used to construe the meaning of
their contract.

You are mostly correct: my terminology was wrong.

"Buyer in ordinary course of business" means a person that buys goods in
good faith, without knowledge that the sale violates the rights of another
person in the goods, and in the ordinary course from a person, other than a
pawnbroker, in the business of selling goods of that kind. A person buys
goods in the ordinary course if the sale to the person comports with the
usual or customary practices in the kind of business in which the seller is
engaged or with the seller's own usual or customary practices." [UCC Chapter
46]

I should have said "usual and CUSTOMARY (not "accepted") practices".

I regret the error and thanks for the correction.