New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 1 - General Provisions

Part 1 - SHORT TITLE, CONSTRUCTION, APPLICATION AND

Section 55-1-101 - Short titles. - (a) Chapter 55 NMSA 1978 shall be known and may...

Section 55-1-102 - Scope of article. - Chapter 55, Article 1 NMSA 1978 applies to a transaction...

Section 55-1-103 - Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law. - (a) The Uniform Commercial Code must be liberally construed and...

Section 55-1-104 - Construction against implicit repeal. - The Uniform Commercial Code being a general act intended as...

Section 55-1-105 - Severability. - If any provision or clause of the Uniform Commercial Code...

Section 55-1-106 - Use of singular and plural; gender. - In the Uniform Commercial Code, unless the statutory context otherwise...

Section 55-1-107 - Section captions. - Section captions are part of the Uniform Commercial Code. History:...

Section 55-1-108 - Relation to Electronic Signatures in Global and National Commerce Act. - Chapter 55, Article 1 NMSA 1978 modifies, limits and supersedes...

Section 55-1-109 - Repealed. - History: 1953 Comp., § 50A-1-109, enacted by Laws 1961, ch....

Section 55-1-110 - Repealed. - History: Laws 2015, ch. 54, § 8; repealed by Laws...

Part 2 - GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION

Section 55-1-201 - General definitions. - (a) Unless the context otherwise requires, words or phrases defined...

Section 55-1-202 - Notice; knowledge. - (a) Subject to Subsection (f) of this section, a person...

Section 55-1-203 - Lease distinguished from security interest. - (a) Whether a transaction in the form of a lease...

Section 55-1-204 - Value. - Except as otherwise provided in Chapter 55, Articles 3, 4...

Section 55-1-205 - Reasonable time; seasonableness. - (a) Whether a time for taking an action required by...

Section 55-1-206 - Presumptions. - Whenever the Uniform Commercial Code creates a "presumption" with respect...

Section 55-1-207 - Repealed. - History: 1953 Comp., § 50A-1-207, enacted by Laws 1961, ch....

Section 55-1-208 - Repealed. - History: 1953 Comp., § 50A-1-208, enacted by Laws 1961, ch....

Section 55-1-209 - Repealed. - History: 1978 Comp., § 55-1-209, enacted by Laws 1992, ch....

Part 3 - TERRITORIAL APPLICABILITY AND GENERAL RULES

Section 55-1-301 - Territorial applicability; parties' power to choose applicable law. - A. Except as otherwise provided in this section, when a...

Section 55-1-302 - Variation by agreement. - (a) Except as otherwise provided in Subsection (b) of this...

Section 55-1-303 - Course of performance, course of dealing and usage of trade. - (a) A "course of performance" is a sequence of conduct...

Section 55-1-304 - Obligation of good faith. - Every contract or duty within the Uniform Commercial Code [55-1-101...

Section 55-1-305 - Remedies to be liberally administered. - (a) The remedies provided by the Uniform Commercial Code [55-1-101...

Section 55-1-306 - Waiver or renunciation of claim or right after breach. - A claim or right arising out of an alleged breach...

Section 55-1-307 - Prima facie evidence by third-party documents. - A document in due form purporting to be a bill...

Section 55-1-308 - Performance or acceptance under reservation of rights. - (a) A party that with explicit reservation of rights performs...

Section 55-1-309 - Option to accelerate at will. - A term providing that one party or that party's successor...

Section 55-1-310 - Subordinated obligations. - An obligation may be issued as subordinated to performance of...