MLchartDataset catalogue

Substantial impairment

Term · Law · MLC-T-LAW-004745

A defect or nonconformity in goods serious enough to substantially reduce their value to the buyer, a concept from the sales provisions of the Uniform Commercial Code. It lets a buyer revoke acceptance of goods under section 2-608 and, in an installment contract, treat a default as a breach of the whole contract under section 2-612. The test looks at the value to this particular buyer, not to the market in general.

Table 1. Record
IdentifierMLC-T-LAW-004745
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004745",
  "term": "Substantial impairment",
  "field": "Law",
  "definition": "A defect or nonconformity in goods serious enough to substantially reduce their value to the buyer, a concept from the sales provisions of the Uniform Commercial Code. It lets a buyer revoke acceptance of goods under section 2-608 and, in an installment contract, treat a default as a breach of the whole contract under section 2-612. The test looks at the value to this particular buyer, not to the market in general.",
  "url": "https://mlchart.com/terminology/law/substantial-impairment/"
}

Record 4,841 of 5,441 in Law terminology (MLC-0107). Request the full dataset.