107k views
3 votes
Within how many days does Seller need to notify the buyer of intention to repossess or abandon shipped or delivered goods?

a) 7 days
b) 14 days
c) 30 days
d) 60 days

1 Answer

3 votes

Final answer:

The notification period for a seller to inform the buyer of the intent to repossess or abandon goods is commonly 10 days under the UCC, but local laws and contracts may vary. The closest match from the options provided is 14 days.

Step-by-step explanation:

The specific time frame within which a seller must notify the buyer of the intention to repossess or abandon shipped or delivered goods can vary depending on the jurisdiction and the terms of the agreement between the buyer and seller. However, for the Uniform Commercial Code (UCC) which is widely adopted throughout the United States, it generally requires that in case of default by the buyer, the seller must give the buyer written notice of the intent to repossess which is commonly stipulated to be within 10 days. Given the options provided, none of the durations exactly match this time frame. Therefore, it is essential to consult the specific sales contract and local laws for the accurate number of days. However, of the provided options, 14 days (option b) would be the closest match, assuming a standard agreement under the UCC without modifications.

User Stephen Lynx
by
8.0k points