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§ 55-2-701 NMSA 1978

Remedies for breach of collateral contracts not impaired

Known as the Uniform Commercial Code

The act spans §§ 55–55 (591 sections).

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

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.

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.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.