[meteorite-list] Dealer Refunds

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From: LITIG8NSHARK_at_aol.com <LITIG8NSHARK_at_meteoritecentral.com>
Date: Thu Apr 22 10:22:43 2004
Message-ID: <194.1b6f0373.2c2efe83_at_aol.com>

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Good morning Geoff, Steve and all,

At the risk of boring some of you, I would like to shed some light on a
party's expectations of a refund from the legal perspective.

Absent any specified agreement regarding refunds, and for transactions
between dealers (Merchants), in the United States the Uniform Commercial Code sets
forth both requirements of the purchase contract and the remedies available to
an unhappy participant. While there are a number of exceptions within the
Code, the following is essentially a brief overview of the Code as it applies to
this situation.

"Merchants" (Dealers) are defined as those folks who regularly deal in goods
of the kind, (In this case meteorites) or, who hold themselves out as having
special knowledge in the area of the goods.

Between Merchants, enforceable agreements for the sale/purchace of goods with
a price of more than $500.00 must be in writing.

The Merchant/buyer typically has the right to inspect the goods upon receipt
and if the goods are not conforming (i.e., not suited for the purpose intended
or, in the case of meteorites not the meteorite specified in the agreement)
the buyer may timely notify the seller of the rejection of the goods and is
entitled to a refund. However, upon notification of rejection by the buyer, the
seller has a reasonable amount of time to "cure" the defect complained of
(ship the proper specimen) or enter into a modified agreement which each party can
agree to.

If the Merchant/buyer has already created a substantial change in the goods
(such as cutting, polishing or varnishing) then the buyer will not be allowed
to reject the goods. One of the exceptions to this rule might be where the
cutting was part of the inspection process and revealed that the goods were not
as represented by the seller (i.e., buyer contracted for a pallasite and
received a mesosiderite).

Absent a sound reason for rejection (buyer's remorse doesn't count) the
transaction is valid and enforceable.

That having been said, the common sense approaches articulated in many of the
previous posts to this thread may be more important from a practical
standpoint than the Uniform Commercial Code regulations. Have a clear return/refund
policy. Consider the effect down the line (your reputation and desire for
repeat customers) of bowing to an unreasonable request for a refund versus
standing on your rights.

Have a great weekend.

Best Regards,

Paul

In a message dated 6/28/2003 8:02:06 AM Eastern Daylight Time,
Geoffcin_at_aol.com writes:

> As we all know, the value of meteorites is in a constant flux. Dealers
> should know this most of all. Steve's customer IS a dealer, although I use this
> in the broad sense of the word. He is only looking to maximize his profit by
> asking Steve for a refund.

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Content-Type: text/html; charset="US-ASCII"
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<HTML>Good morning Geoff, Steve and all, 
 
At the risk of boring some of you, I would like to shed some light on a part=
y's expectations of a refund from the legal perspective. 
 
Absent any specified agreement regarding refunds, and for transactions betwe=
en dealers (Merchants), in the United States the Uniform Commercial Code set=
s forth both requirements of the purchase contract and the remedies availabl=
e to an unhappy participant.  While there are a number of exceptions wi=
thin the Code, the following is essentially a brief overview of the Code as=20=
it applies to this situation. 
 
"Merchants" (Dealers) are defined as those folks who regularly deal in goods=
of the kind, (In this case meteorites) or, who hold themselves out as havin=
g special knowledge in the area of the goods. 
 
Between Merchants, enforceable agreements for the sale/purchace of goods wit=
h a price of more than $500.00 must be in writing. 
 
The Merchant/buyer typically has the right to inspect the goods upon receipt=
and if the goods are not conforming (i.e., not suited for the purpose inten=
ded or, in the case of meteorites not the meteorite specified in the agreeme=
nt) the buyer may timely notify the seller of the rejection of the goods and=
is entitled to a refund.  However, upon notification of rejection by t=
he buyer, the seller has a reasonable amount of time to "cure" the defect co=
mplained of (ship the proper specimen) or enter into a modified agreement wh=
ich each party can agree to. 
 
If the Merchant/buyer has already created a substantial change in the=
goods (such as cutting, polishing or varnishing) then the buyer will not be=
allowed to reject the goods.  One of the exceptions to this rule might=
be where the cutting was part of the inspection process and revealed that t=
he goods were not as represented by the seller (i.e., buyer contracted for a=
pallasite and received a mesosiderite). 
 
Absent a sound reason for rejection (buyer's remorse doesn't count) the tran=
saction is valid and enforceable. 
 
That having been said, the common sense approaches articulated in many of th=
e previous posts to this thread may be more important from a practical stand=
point than the Uniform Commercial Code regulations.  Have a clear retur=
n/refund policy.  Consider the effect down the line (your reputation an=
d desire for repeat customers) of bowing to an unreasonable request for a re=
fund versus standing on your rights.  
 
Have a great weekend. 
 
Best Regards, 
 
Paul 
 
In a message dated 6/28/2003 8:02:06 AM Eastern Daylight Time, Geoffcin_at_aol.=
com writes: 
 
<BLOCKQUOTE TYPE=3DCITE style=3D"BORDER-LEFT: #0000ff 2px solid; MARGIN-LEFT=
: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px">As we all know, the value of me=
teorites is in a constant flux. Dealers should know this most of all. Steve'=
s customer IS a dealer, although I use this in the broad sense of the word.=20=
He is only looking to maximize his profit by asking Steve for a refund.</BLO=
CKQUOTE> 
 
</HTML>
--part1_194.1b6f0373.2c2efe83_boundary--
Received on Sat 28 Jun 2003 10:21:55 AM PDT

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